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
The New York-based real estate firm has brought on Matthew Delicata from London-based Patron Capital to bolster its planned distress real estate fund team. The fund is expected to focus on the five boroughs of New York. King Penguin has also hired former Carlton Group professional, Garett Pelton.
1 min read · 21 January 2013
Chris Macke, former GE Real Estate vice president, has set up his own firm, General Equity Real Estate, to target single-tenant commercial properties. He will be joined by other GE Real Estate net lease professionals in the near future.
1 min read · 21 January 2013
The Los Angeles-based private equity real estate firm is considering a possible investment in the City Center project, according to sources. Colony is trying to help ‘both sides’ resolve the project’s problems.
2 min read · 21 January 2013
New guidelines announced by the Financial Accounting Standards Board, in response to recent pressure amid increasing write-downs and stock drops, will give GPs more room to manoeuvre in pricing investments.
2 min read · 21 January 2013
ING Real Estate Select has appointed Ivo de Wit as global portfolio manager to cope with “new global business” across its multi-manager platform. de Wit previously held the same position within the global executive team at ING Real Estate.
1 min read · 21 January 2013
At a special breakfast meeting, PERE assembled a cross-section of industry participants to swap notes on MIPIM and their businesses. By Robin Marriott and Jonathan Brasse. PERE Magazine, April 2009 issue
8 min read · 21 January 2013
