London-based Benson Elliot has raised €510 million for Benson Elliot Real Estate Partners III, its second fund. Marc Mogull, founder, says the next few years will offer a ‘once in a generation opportunity’.
2 min read · 21 January 2013
The number of development loans written-off by banks in the US is also expected to rise sharply for the final three months of 2008. Of the estimated $60bn in outstanding construction loans as of Q4, 8.2 percent are expected to be non-accrual.
1 min read · 21 January 2013
The value-added real estate firm has promoted David Streicher to partner and appointed veteran Jennifer Levy as CFO with responsibility for accounting, tax and reporting.
1 min read · 21 January 2013
The US firm wants to raise the money to help pay down debt in its German residential business, Gagfah, as well as alleviate funding issues at its other real estate investments, according to a report.
2 min read · 21 January 2013
The tenth largest pension fund in the US has reported a 5.6% fall in returns for real estate in 2008, but the sector still outperformed other asset classes.
1 min read · 21 January 2013
The $1.5bn pension, concerned that GPs were not ‘realistic’ during the boom period, will also delay an initial allocation to the private equity asset class.
2 min read · 21 January 2013
Proposals to create a ‘bad bank’ to soak up the toxic assets clogging the US financial markets have been welcomed by real estate professionals. However, veterans of the RTC warn against simply ‘moving pieces round the board’.
2 min read · 21 January 2013
Fund managers say the private equity and real estate markets are entering a new paradigm, with fees one area set for potential change. Fees, one GP said, had gotten “out of hand”.
2 min read · 21 January 2013
Credit, or the lack of credit, is on everyone’s minds. For some real estate investors it is presenting an ideal opportunity to provide financing where financing is badly needed.
2 min read · 21 January 2013
Cezary Podkul looks at how the US stimulus bill will impact the upcoming debate on infrastructure spending.
2 min read · 21 January 2013
