The $1.9bn listed joint venture between Macquarie and Developers Diversfied Realty is selling roughly two-thirds of its shopping centre assets as the company struggles amid a declining retail market.
1 min read · 21 January 2013
The Chicago-based private equity real estate firm has appointed Mark Burkemper to its acquisition team. Burkemper was previously with Morgan Stanley’s merchant banking real estate group.
1 min read · 21 January 2013
The multifamily investor has closed its second value-added fund after eight months of fundraising. One investor committed $75m to the vehicle.
1 min read · 21 January 2013
The German government today launched its long-awaited takeover approach for Munich-based property lender Hypo Real Estate. Private equity firm JC Flowers and private equity real estate firm Grove International have said they want to retain their minority shareholding.
1 min read · 21 January 2013
The New York-based pension fund is opening its first Asian office in Hong Kong and has hired Eric Mason, who was formerly at The Carlyle Group.
2 min read · 21 January 2013
The city granted a Citi-led consortium two more weeks to agree on an extension of up to six months to reach financial close on the $2.5bn lease of the airport.
1 min read · 21 January 2013
Vacancy rates for rental apartments in the US increased 1.2% over the past year to 7.2% – levels not seen since 2004. Rising inventory levels are pushing rents down to levels not seen in the past decade.
2 min read · 21 January 2013
Why the auction of the John Hancock Tower marks a very public end to Broadway Partners’ debt-driven strategy, and the start of a new era of bargains.
2 min read · 21 January 2013
With LPs struggling to balance declining distributions against pending capital calls, a report by Clerestory Capital shows 32 fund managers in market over the past six months chose to stop or put fundraising efforts on hold. Among the worst hit were funds targeting India and China.
2 min read · 21 January 2013
The US firm has been deploying cash consistently throughout the past month, most recently having invested $160m to acquire the ice-making business of Manitowoc. It is also set to exit electronic payment firm Metavante, which will be merged with Fidelity National Information Services to create a $10bn enterprise.
2 min read · 21 January 2013
