Cordea Savills says Britain’s commercial property market will begin to recover later this year providing ‘excellent risk-adjusted returns’, albeit selectively.
2 min read · 21 January 2013
Manchester Airports Group and Borealis are now in pole position to acquire Gatwick Airport after BAA rejects GIP’s £1.35 billion bid. The elimination comes less than a week after Citigroup's Lysander group was dropped from contention.
2 min read · 21 January 2013
Alabama-based Harbert Management acquires Lyon Business Park from Goodman’s European Business Park Fund.
1 min read · 21 January 2013
The Boston-based firm finally triumphed in its pursuit of the bankrupt, members-only club in Montana after originally bidding $470m for the resort in 2008. Yellowstone has been subject to a drawn out court battle over its future.
2 min read · 21 January 2013
Peter Pereira-Gray reiterates his cautious approach to investing in private real estate funds, warning alignment of interest among LPs is a key concern.
2 min read · 21 January 2013
The inspector general of the US Pension Benefit Guarantee Corporation said it has found improper communications between the agency’s former director, Charles Millard, and investment firms bidding for contracts to manage the agency’s $2.5bn allocation to private equity and real estate. US Congress is now investigating the issue.
2 min read · 21 January 2013
In Asia, sales of industrial properties fell 95% compared to a year earlier, while in the US the vacancy rate for industrial buildings rose to 12.2% – the highest level since 1989.
1 min read · 21 January 2013
The Washington DC-based firm has completed the sale of a London office building after commercial real estate investment firm Menolly Investments dropped its lawsuit challenging Carlyle’s completion of the office building’s refurbishment.
1 min read · 21 January 2013
The Canadian private equity firm has been amassing the bankrupt casino operator’s senior debt. Onex made the investment from its third buyout fund, which is nearing a $3.5bn close.
2 min read · 21 January 2013
The firm AREA Property Partners has bought a minority stake in a UK retail park fund and has formed a company to undertake strategic asset management of the properties.
2 min read · 21 January 2013
