As the struggling firm continues its negotiations with its syndicate of lenders to restructure its balance sheet, it is warning investors that any agreement will likely leave “no value for equity holders” and “negligible or no value” for holders of the company’s subordinated debt.
1 min read · 21 January 2013
The Dubai-based fund manager plans to launch three funds targeting the Middle East’s real estate markets in 2009. To help with the task, AREIT has hired former Landmark Real Estate Investment Management CEO Chris Purdon.
1 min read · 21 January 2013
Richard Bains has joined the London firm from London's CIT Group to help identify investment opportunities with a particular focus on the UK.
1 min read · 21 January 2013
European retail property fund manager has tapped James Bury from JER Partners to become head of European fund management.
2 min read · 21 January 2013
Private equity and foreign investors will gain ‘traction’ in 2009 as the real estate markets deleverage. The US market will be a particular target, according to a Jones Lang LaSalle study. Borrowers could struggle to refinance loans in 2009 and 2010, even if the 'underlying property is performing'.
2 min read · 21 January 2013
The bankrupt Tribune Company is nearing a final agreement to sell the Chicago baseball team purchased by real estate mogul Sam Zell. A $900m offer from the head of Chicago investment bank Incapital reportedly beat bids from private equity executives Marc Utay and Leo Hindery.
2 min read · 21 January 2013
The $153bn pension allocated $200m to Bank of America for investments with emerging managers, and $350m to minority-owned Parish Capital as part of its emerging private equity managers programme.
2 min read · 21 January 2013
The Dutch bank, with €72bn of real estate assets under management globally, has also parted company with its chief executive after revealing a €1bn loss during 2008.
2 min read · 21 January 2013
Almost a third of all value-added and opportunistic real estate vehicles closed in 2008 were targeting the Asian property markets, according to proprietary data from PERE magazine.
1 min read · 21 January 2013
The Dubai-based investment firm is entertaining bids for the iconic New York store after buying it for $942m in 2007, according to reports. A sale would likely mean a substantial loss for Istithmar.
2 min read · 21 January 2013
