Details have been revealed of Carlo Puri Negri’s compensation deal for leaving Pirelli Real Estate as a board director two years earlier than originally planned. As well as a €9.4 million pay off, he will get €3 million over two years for not competing against the company and €800,00 a year for a consultancy role.
1 min read · 21 January 2013
The UK property company owned by the Duke of Westminster hopes to grow its funds business through corporate acquisitions. The strategy was part of a three pronged plan revealed by Grosvenor as it posted its year end results.
1 min read · 21 January 2013
Delayed repricing may finally be on the horizon however private equity real estate players are narrowing their focus to key cities in Russia.
2 min read · 21 January 2013
Retail REIT General Growth has collapsed, and private equity real estate is best positioned to pick up the pieces.
2 min read · 21 January 2013
The chief operating officer of JE Robert Companies has left the firm after just 18 months. It follows the departure of European head Malcom Le May and after sources said the McLean, Virginia-based firm was focusing increasingly on asset management.
2 min read · 21 January 2013
The US’ second largest mall owner, burdened with $27.3bn of debt, has ‘reluctantly’ filed for Chapter 11 bankruptcy protection after unsuccessfully trying to refinance its loans out of court. The REIT has obtained $375m of DIP financing from investment firm Pershing Square to continue operations.
2 min read · 21 January 2013
John Thornley has joined former colleague Chris Macke as chief operating officer of General Equity Real Estate after more than 25 years at the US conglomerate.
1 min read · 21 January 2013
Robert Houston is leaving ING as chief executive of its investment management division in August, less than a year after being appointed.
1 min read · 21 January 2013
Saudi Prince Alwaleed bin Talal, who reportedly has a controlling interest in the 122-year-old Singapore hotel’s parent Fairmont Raffles Hotels International, may also consider selling his stake in the group.
1 min read · 21 January 2013
In addition to his current role at the global private equity firm, Ming Lu will stand for election at the global real estate firm’s annual meeting of shareholders next month.
2 min read · 21 January 2013
