The Swiss alternative asset manager argues in a research report the Chicago airport is a ‘trophy asset’ that exacted a high premium at a time when listed infrastructure comparables are indicating much lower valuations.
2 min read · 21 January 2013
As the US property market continues to deteriorate, research by fund manager RREEF reveals that value-added and opportunistic strategies should be treated with ‘caution’. However, desperate sellers will produce ‘attractive opportunities’ for some.
2 min read · 21 January 2013
The industrial development and investment firm has today received $845m from the sale of its China and Japan operations to GIC Real Estate. It is expected to close the $140m sale of its Misato Park to GIC Real Estate in the next month.
2 min read · 21 January 2013
There is a newfound sense of optimism among private equity real estate pros, even given the major challenges facing the industry.
2 min read · 21 January 2013
The JE Robert Companies-managed REIT, JER Investors Trust, will move to over-the-counter trading after failing to maintain a market cap of more than $15 million.
1 min read · 21 January 2013
Robert Rackind, who was recruited last September as investment manager for Europe by Australia’s Valad Property Group, left last week to start up his own firm. London-based Davies Street Capital is targeting value-added office opportunities in Western European capital cities.
2 min read · 21 January 2013
The US government's moves to gain greater regulatory control over large financial instutions would obligate some private equity firms to register with the SEC and supply data including the names of LPs and leverage levels on deals.
3 min read · 21 January 2013
The CEO of Allianz Real Estate Olivier Piani said lending in Europe won’t improve significantly until banks deal with their real estate assets. However, the PREA spring conference heard there’s more upside than downside to the current crisis.
2 min read · 21 January 2013
The US government’s Term Asset-Backed Securities Loan Facility should successfully create clear market prices, but will need the participation of the private sector, according to speakers at the PREA spring conference in Washington DC.
1 min read · 21 January 2013
Songbird Estates, a property company backed by Morgan Stanley Real Estate Funds, unveiled £1.8bn annual losses today and said there was a ‘material risk’ of breaching banking covenants within the next 12 months. It has appointed UK bank Rothschild to advise on funding options.
1 min read · 21 January 2013
