The German construction giant will modernise and expand three existing schools and construct a new school center in Bavaria’s Hof district. The PPP is expected to cost €50m and will require Bilfinger to operate the schools for 21 years.
1 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 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
To be unveiled 4 May, PERE’s updated ranking of the 30 largest private equity real estate firms in the world finds that together the firms control an enormous amount of equity through value-added and opportunistic funds. Beacon Capital and LaSalle Investment Management are among nine firms to rise in the rankings.
1 min read · 21 January 2013
Sam Zell has said he'd been too optimistic about the Chicago-based media company, which in December collapsed under a $13bn debt load. Zell stressed the need to find a new business model for newspapers, likening a potential Tribune merger to asking another company if it wants to 'get vaccinated with a live virus'.
3 min read · 21 January 2013
Andrew Cuomo, the attorney general of New York, has accused a former political leader of collecting $800,000 in sham finder’s fees for directing pension investments to two private equity firms.
3 min read · 21 January 2013
Wextrust Capital, the investment firm charged by the SEC with running a Ponzi scheme that defrauded 1,200 investors, has seen its 33-property portfolio put up for sale, including a 13-building office complex leased to the State of Tennesee.
1 min read · 21 January 2013
Angus Dodd, a former managing director at JER Partners in Europe, has joined US firm Lone Star to search out UK investments.
1 min read · 21 January 2013
At a time when constructing lending is difficult to obtain, a $280m joint venture fund between Blue Vista Capital Management and development firm Place Properties has secured a $155m construction loan from multiple lenders. US capital market analysts add the time taken to get financing is getting longer and now takes up to five months.
2 min read · 21 January 2013
