San Diego-based Westcore Properties and New York-based Angelo, Gordon & Co acquire a $27.8m loan secured against a London office portfolio in a rare offload by a UK bank.
2 min read · 24 January 2013
Leon Black’s Apollo Global Management has been chosen as the preferred bidder to take control of Citi Property Investors, the real estate investment arm of Citigroup.
2 min read · 24 January 2013
Fairholme Capital and Pershing Square have pledged $3.9bn of fresh capital to support a recapitalisation of bankrupt REIT General Growth Property. It follows Brookfield’s equity pledge of $2.63bn last month.
2 min read · 24 January 2013
After investing in Michael Jackson’s Neverland home to help the singer avoid foreclosure shortly before his death, Colony Capital will become Annie Leibovitz’s sole creditor and help her market her library of photographs.
3 min read · 24 January 2013
Earl Mahfuz, the state’s new PPP director, said in an interview that Georgia’s first project, the $2.3bn ‘West by Northwest’ toll road development is being modeled after the North Tarrant Express in Texas. Both projects will share the use of pre-development agreements, managed lanes and financing techniques.
3 min read · 24 January 2013
Mark Burton is to retire as the chief investment officer of sovereign wealth fund Abu Dhabi Investment Council after three years in the role. Burton is expected to conclude his tenure at the fund before June.
2 min read · 24 January 2013
The mortgage REIT launched by Starwood Capital Group has continued its aggressive investment spree by acquiring a $503 million loan book from Teachers Insurance and Annuity Association of America.
1 min read · 24 January 2013
Norway’s Government Pension Fund Global has been given the green light to invest billions into real estate. Private equity real estate firms should brace themselves for the arrival of Europe’s largest sovereign wealth fund.
3 min read · 24 January 2013
The listed firm is expected to again team with Coller Capital to spin out a portfolio, but the potential transaction would see 3i become the manager of the assets in play rather than the seller.
2 min read · 24 January 2013
Sander Levin, who previously backed bills to tax carry as ordinary income instead of capital gains, will chair the House Ways and Means Committee. He will take over from Rep. Charles Rangel.
1 min read · 24 January 2013
