The $123.8bn California pension plan took a 50% write-down in its value-added/opportunistic real estate investments in the year to 31 March 2009. The pension has completely written off its equity in some funds, while others are currently reporting IRRs of more than -100%.
2 min read · 21 January 2013
Prudential Real Estate Investors has disposed of a 570,000-sq-ft office to US REIT KBS. It comes as the real estate investment firm also repaid $145m of a $616m credit facility with JV partner Kimco Realty.
2 min read · 21 January 2013
The US banking regulator scaled back its proposed rules, easing certain requirements that had attracted industry criticism including Tier 1 leverage ratios.
4 min read · 21 January 2013
Emerging markets giant Actis is adjusting to life after the closing of its $2.9bn third fund by building up its IR and communications teams.
2 min read · 21 January 2013
The buyout firm's first US deal is for Everpower Wind Holdings, which it has purchased from renewable-focused Good Energies.
1 min read · 21 January 2013
These 15 firms have the skills and strategies to dominate the real estate wasteland, say market insiders. PERE Magazine September 2009.
10 min read · 21 January 2013
Jeff Jacobson, the global chief executive officer at LaSalle Investment Management is moving from Europe to Asia to help the firm take advantage of ‘unprecedented’ opportunities. He will start work from the Singapore office effective from 1 January 2010.
2 min read · 21 January 2013
Martin Barber, one of the UK’s best known property entrepreneurs and one of the few British executives with experience in the US REIT market, says he has backing from US investors for a company called Zenith Estates.
1 min read · 21 January 2013
The Chicago-based firm has agreed the sale of the Swiss Merchant Court Singapore hotel to Kuala Lumpur-based TA Enterprise, according to reports in Malaysia’s press.
1 min read · 21 January 2013
The number of global property purchases has increased for the first time in 15 months with $62.8bn of sales during Q2 – up 17 percent compared to the previous quarter, according to Real Capital Analytics. Distress though remains 'alarmingly' high with $233bn of property now in trouble.
2 min read · 21 January 2013
