Just a month after buying out Pramerica Real Estate Investors’ majority stake in Hong Kong skyscraper PCCW Tower, the locally-based real estate developer has sold a 50 percent stake in the asset to London-based Grosvenor.
2 min read · 24 January 2013
The Los Angeles-based firm has created a new position to enlarge its business in Europe by appointing Jean Lamothe as president
2 min read · 24 January 2013
Eight months after being selected as the preferred bidder, the real estate arm of Leon Black’s buyout shop has formally taken over the Citi Property Investors platform and funds. Apollo is believed to have paid a ‘nominal’ fee for CPI.
2 min read · 24 January 2013
The Washington DC-based firm, which is targeting $400m for its US government-focused real estate fund, has promoted Andrew Pulliam. The fund held a $100m first close in July.
1 min read · 24 January 2013
The EU parliament has accepted compromise proposals put forth by the rival EU council, ushering in a new wave of rules on fund transparency, remuneration, asset stripping and non-EU funds and managers.
3 min read · 24 January 2013
The fund of funds landscape is changing, argues CB Richard Ellis Investors’ Jeremy Plummer, with blind pools increasingly becoming a thing of the past. Facing a J-curve is something the sector's investors are keen to avoid, he says.
3 min read · 24 January 2013
The secondaries investor now holds 48.9 percent of the Chrysler East Building, as it eyes LPs looking to exit JV investments in core assets in the US and Europe.
2 min read · 24 January 2013
Roughly 20 months after buying the office portion of 1540 Broadway for $355m, CBRE Investors has sold a 49% stake in the property to Edge Fund Advisers and HSBC. The deal values the tower at $520m – almost half the price paid by Harry Macklowe in 2007.
1 min read · 24 January 2013
The firm has hired Michael Arpey as a managing director responsible for coordination of investor relations, new fund formation and the development of new investor products.
2 min read · 24 January 2013
Following an internal audit this summer, Kentucky Retirement Systems is facing a review by Kentucky’s state auditor over its use of placement agents.
2 min read · 24 January 2013
