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
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
