Pacific Retail Capital, the private equity real estate firm which span-out of Somera Capital and was backed with capital from Lubert-Adler, says retail is about to undergo a “major shift” away from the High Street chain model. The firm is targeting malls of at least 500,000 sq ft.
2 min read · 22 January 2013
The private merchant bank has appointed former Bear Stearns executive, Thomas Harney, to lead the new real estate operation, which will focus on recapitalisations, joint ventures and opportunistic debt and equity investments.
1 min read · 22 January 2013
David Pearce, a former executive director advising the bank on government and legal relations, has joined the US industry body, the Real Estate Roundtable, as counsel.
1 min read · 22 January 2013
The bank lost $3.9bn over the past year in its principal investment area, which includes alternatives. Goldman’s CFO said the company is well-capitalised and is being patient for good investment opportunities.
2 min read · 22 January 2013
The $17bn endowment has suffered from declining financial markets. The university says it has been establishing reserves in anticipation of 'substantial' write-downs in its private equity and real estate portfolio. Real assets, including real estate, makes up a quarter of the fund's portfolio.
2 min read · 22 January 2013
The auto-parts supplier has succumbed to its debt load after failing to refinance $53m on loans. Distressed debt firm Wayzata Investment Partners has bought the company’s debt and will control the bankruptcy process.
1 min read · 22 January 2013
Voting for the first round of the third annual Global PERE Awards will close on January 5, 2009. Have you nominated the people, firms, funds and deals that stood out in 2008 yet? If not, cast your vote now.
2 min read · 22 January 2013
The JV venture between Chicago-based Heitman and US self-storage REIT Sovran Self Storage has added four more self-storage units to its portfolio. The $26.3m deal, including a $12.3m first mortgage, closed only after the JV agreed to fund the remaining amount in cash.
1 min read · 22 January 2013
As investors start to eye distressed real estate investment trusts, the US’ second largest mall owner reveals it has not reached 'unanimous agreement' to extend $900m in debt on two Las Vegas loans. The firm is in talks with its lenders, after the loans were due for repayment last Friday.
2 min read · 22 January 2013
Fund managers will however see opportunities in REITs, discounted fund interests, non- and partially-performing loans and defaulting land and development deals, according to LaSalle Investment Management’s annual strategy report.
2 min read · 22 January 2013
