British property company Sovereign Land is teaming up with veteran broker Chris Geaves to take advantage of the country's pricing correction. The fund will particularly target shopping centres. Geaves will be 'winding down' his role at Strutt & Parker.
1 min read · 21 January 2013
Piergiulio Dentice di Accadia has joined from CB Richard Ellis Investors to manage the Cordea Savills Italian Opportunities No 2 fund. In addition, former Pirelli Real Estate professional Daniele Martignetti has also joined Cordea Savills’ Italian business.
1 min read · 21 January 2013
The Municipal and Infrastructure Assurance Corporation, capitalised by Macquarie at $75m as of September 2008, will be able to obtain its licenses to provide bond insurance in all US states and territories more quickly as part of a pilot licensing program.
2 min read · 21 January 2013
The real estate investment trust arm of JE Robert Companies has undertaken a 1-for 10 reverse stock split after its average share price dipped below $1 in violation of the New York Stock Exchange’s listing requirements.
1 min read · 21 January 2013
A management group from Lehman Brothers Venture Partners will spin-out to become Tenaya Capital. The firm will have $750m in capital and 45 portfolio companies and retain all the third-party limited partners from Lehman’s venture funds. A decision on Lehman's real estate operations is expected in the next month.
2 min read · 21 January 2013
Wilfred Wong will formulate and manage the Singaporean group's business strategies in China and Macau. Wong is also a delegate of the National People’s Congress of China and deputy vice chairman of golf course developer Mission Hills Group.
2 min read · 21 January 2013
The struggling infrastructure specialist has a 13 person team in India, which it may wind down as it seeks to sells assets globally to repay the A$3.2bn it owes to a syndicate of 25 lenders.
1 min read · 21 January 2013
Sentiment from private equity firms towards investment in India is on the wane and cyclical markets like real estate are likely to be among those most affected, delegates at a Mumbai conference heard today. The message echoes last week’s PERE Forum: Asia 2009 conference in Hong Kong.
2 min read · 21 January 2013
Spanish bank Santander has asked Spain’s financial regulator for permission to halt redemptions at its Santander Banif Inmobiliario FII fund. Investors have been rushing to exit ahead of the publication of a revaluation of assets as Spain plunges into recession.
1 min read · 21 January 2013
The publicly listed company is in discussions with its lenders and noteholders seeking relief from covenants on its debt. Allied has already seen one of its portfolio companies, real estate lender Ciena Capital, collapse into bankruptcy.
2 min read · 21 January 2013
