Mark Preston succeeds Jeremy Newsum as chief executive officer of British property group Grosvenor, owned by the Duke of Westminster. Preston was former head of the firm’s UK operations and fund management business.
2 min read · 22 January 2013
Penn National will receive $225m in cash and $1.25bn in preferred shares after the Fortress and Centerbridge-led deal to buy the casino and race-track company was terminated. Penn said a ‘re-negotiated, reduced purchase price was not a viable option.’
2 min read · 22 January 2013
The Boston-based real estate investment firm appoints former Invesco executive Ben Maudling to lead its operations in Central and Eastern Europe. Taurus president Peter Merrigan says the firm is also planning new offices in Peru and Greece.
2 min read · 22 January 2013
GE Real Estate, which is in the process of setting up a property fund business to rival the likes of Morgan Stanley and Blackstone, has appointed the firm’s general counsel and former Orion Capital real estate professional Thierry Leleu as managing director in Europe.
1 min read · 22 January 2013
Private equity real estate firms globally raised $40bn during the first half of 2008, according to proprietary data from sister publication PERE Magazine. This tally puts GPs on course to raise more than the record-breaking totals of last year.
2 min read · 22 January 2013
The McLean, Virginia-based firm closes 12 debt deals through its US Debt Co-Investment fund, a joint venture between its private equity real estate arm, JER Partners, and its REIT, JER Investors Trust.
2 min read · 22 January 2013
Following its first deal in the UK, the firm has made the first purchase through its joint venture with Scius Partners, investing €40m in a retail park outside Stockholm.
2 min read · 22 January 2013
The US arm of ING Real Estate’s investment business is to change its name from ING Clarion within the next six to 12 months, according to the outgoing chairman and chief executive of ING Real Estate Investment Management, David Blight.
2 min read · 22 January 2013
Real estate investment management firm CB Richard Ellis Investors has acquired two office buildings in Dallas through its $2.1bn private equity real estate fund, CBRE Strategic Partners US 5.
2 min read · 22 January 2013
The Carlyle Group and Crown Acquisitions have taken a controlling stake in New York City’s 666 Fifth Avenue retail property, which will feature a new 20,000-square-foot Abercrombie & Fitch clothing store.
1 min read · 22 January 2013
