The Bridgeport, Connecticut-based People's United Bank has agreed a $35 million, three-year refinancing with opportunistic investor Talcott Realty. The loan is backed by the office property One Financial Plaza in Hartford.
1 min read · 21 January 2013
An undisclosed shareholder at Indian real estate fund Trikona Trinity Capital has asked the fund to sell its assets “in the best interests of the company and the shareholders”, according to a filing on the UK’s AIM stock market.
2 min read · 21 January 2013
Bill Hughes, the newly-installed chairman of the UK’s Association of Real Estate Funds and head of property at British insurer Legal & General, tells PERE this month that one of his focal points is examining the structure of open-ended vehicles following mass redemptions across Europe.
1 min read · 21 January 2013
The New York State Common Retirement Fund committed $300m to a fund managed by Franklin Templeton Real Estate. It came as the state’s comptroller called for more flexibility in potentially increasing alternative investments.
2 min read · 21 January 2013
Despite posting a loss of $5.46 billion for 2008, the Finnish pension fund sees real estate outperform its other investment sectors.
1 min read · 21 January 2013
Canada’s Caisse de depot et placement du Quebec suffered large falls in its real estate returns in 2008, with declines of 21.9%, the largest in its history. The pension fund is now seeking ways to stem future losses.
2 min read · 21 January 2013
The New York private equity real estate firm discontinued its legal claim to buy the freehold of the central London residential complex owing to falling property prices. Sources told PERE the firm may launch another bid when conditions are “more favourable”.
2 min read · 21 January 2013
For MENA-based private equity funds, fundraising is no picnic, writes Jenny Blinch.
3 min read · 21 January 2013
One large institutional private equity real estate player has agreed to cut management fees on uncalled capital for its opportunistic vehicle to zero. It's not a solution for everyone though, a New York conference was told.
2 min read · 21 January 2013
Réal Desrochers has ended his 11-year reign as the director of alternative investments at the US' second largest public pension, leaving veteran portfolio managers Margot Wirth and Seth Hall as interim co-directors. Desrochers did not disclose future professional plans in a farewell email sent to friends and colleagues.
4 min read · 21 January 2013
