The Boston skyscraper was sold for a reported $20.1m, plus the assumption of a $640.5m mortgage, after Broadway Partners defaulted on a loan. Broadway paid $1.3bn for the skyscraper and two other buildings in 2006.
2 min read · 21 January 2013
The Las Vegas-based real estate investment firm is raising its debut fund to take advantage of a short-lived period during which homebuilders are unloading properties at deep discounts. The firm says it plans to take advantage of a tax rebate window. The fund will have a lock-in period of just one year after the final close.
2 min read · 21 January 2013
The Swiss alternatives firm plans to augment its fund of funds platform by assuming management of HRJ’s $2bn in assets. The US fund of funds was reportedly burned by its over-commitment strategy last year, causing it to breach debt covenants and seek stake sales for uncalled commitments.
2 min read · 21 January 2013
The Chinese sovereign wealth fund has committed to the bank's latest global property fund, according to reports. Morgan Stanley Real Estate Fund VII Global is likely to close at $6bn, not its original $10bn target.
1 min read · 21 January 2013
The Canadian investor has bid two-thirds over the share price to gain control of Macquarie Communications Infrastructure Group, which has a debt burden of more than A$5bn
1 min read · 21 January 2013
The Toronto Stock Exchange-listed asset manager bought Loews Cineplex in 2002 and sold most of the business to Bain, Carlyle and Spectrum Equity Investors in 2004. It has now sold the remaining Galaxy portion of the business.
2 min read · 21 January 2013
The City of Chicago is expected to give the investors up to six more months to reach financial close on their $2.5bn long-term lease of the Chicago airport. The investor group was originally targeting 6 April for financial close.
1 min read · 21 January 2013
The French private equity firm has written down to zero its €144m investment in the Las Vegas casino operator. It has also written down other investments with Colony Capital, including in the firm’s Colyzeo II fund.
2 min read · 21 January 2013
Notwithstanding a dearth of exits and a few troubled deals, such as its investment in hotel group Accor, the listed French firm says its balance sheet is much healthier than its share price reflects. Its full year earnings report revealed it has written down to zero its stake in Colony-backed Station Casinos.
2 min read · 21 January 2013
The Kuwait Projects Co. plans to raise its first private equity fund, ‘market conditions permitting’, that would invest in sectors including real estate and financial services.
1 min read · 21 January 2013
