Foreign investors in real estate say a recovery could come within a year. A survey by AFIRE revealed that members expect 3x more debt investments and 7x more equity investments to be made in the second half of 2009 than for the whole year-to-date.
1 min read · 21 January 2013
Walnut Creek, California-based Sequoia Equities will target high-net-individuals as it looks to raise $100m for buying distressed construction and development loans.
1 min read · 21 January 2013
The hotel group acquired by the New York-based private equity real estate firm in June 2007 for $7.4bn has filed for bankruptcy protection after it failed to restructure around $7.6bn of debt. There are no plans to close or sell the hotels.
2 min read · 21 January 2013
The country is the most active “exporter” of real estate investment capital to date in 2009, according to Real Capital Analytics. Global transaction volumes in 2Q were an estimated $48.6bn – almost level with 1Q. Plateau has been reached but 'no recovery in sight'.
1 min read · 21 January 2013
The Greenwich, Connecticut-based firm has entered into exclusive talks to buy the hotel group, which it would merge with its budget hospitality group, Louvre Hotels. The deal is expected to close on 26 June. Last week, Starwood floated a $500m debt vehicle to target distressed real estate.
2 min read · 21 January 2013
Lending by active financial institutions declined by $15bn between 2007 and 2008, according to Cushman & Wakefield Sonnenblick Goldman. Life companies have moved to fill some of the capital void but their 2009 originations will be 20% down on 2008 levels.
2 min read · 21 January 2013
The global private equity firm will invest A$65m for a stake of 18% in the Australian waste management company and the remaining A$735m will be raised via an entitlement offer.
2 min read · 21 January 2013
As the balance of power swings from GPs to limited partners, fund managers in New York today predicted investors would call for shorter investment periods for PERE funds in a bid to boost their liquidity. In the search for capital sources though, GPs were advised to watch super and high-net-worth individuals "closely".
2 min read · 21 January 2013
Opportunistic real estate fund managers need to underwrite potential deals with no leverage assumptions in the current environment. For deals to be attractive unlevered returns must be at least 15%.
2 min read · 21 January 2013
One month after disposing of its Tokyo headquarters in a $1.2bn sale to Japanese insurer Nippon Life, AIG has agreed to sell its Manhattan headquarters to a consortium including Korea’s Kumho Investment Bank.
1 min read · 21 January 2013
