Joint venture created with UK REIT, British Land, to own and further improve Broadgate next to Liverpool Street Station.
2 min read · 21 January 2013
Distressed property owners will be allowed to talk to special servicers about restructuring securitised loans before imminent default without triggering tax penalties. The move has criticised for reinforcing the “extend and pretend” attitude of the financial industry.
2 min read · 21 January 2013
The firm has agreed to buy up to 148 properties from Sunwest, which filed a pre-packaged Chapter 11 reorganisation plan in August. The SEC sued Sunwest for fraud in March after it almost devolved into a Ponzi scheme.
2 min read · 21 January 2013
The Swiss-based firm has successfully closed on €275m for a global real estate fund. The firm aims to buy in both mature and emerging markets and has already bought eight investments in China for the vehicle.
2 min read · 21 January 2013
Blackstone’s chairman has told the SEC a firm like his would never have reached its level of success without placement agents. Schwarzman was writing on behalf of the industry, not the Blackstone-affiliated Park Hill Group.
3 min read · 21 January 2013
There is plenty of demand for Asian secondaries – but where are the vendors?
3 min read · 21 January 2013
The SEC is proposing to create a new asset management enforcement unit, which could be good news for firms that have complained in the past about a lack of private equity expertise among auditors and investigators.
3 min read · 21 January 2013
The Ivy League endowment's first-ever overall investment loss has been partly attributed to ‘aggressive commitments to illiquid asset classes’. Yale had similar results.
2 min read · 21 January 2013
It’s a shame CalPERS may refuse to take a negative stance on the SEC’s proposed placement agent ban, writes Christopher Witkowsky.
2 min read · 21 January 2013
The special purpose acquisition vehicle set up by NRDC in 2007 is urging stockholders to allow it to continue operations as a REIT after failing to find a target business. The SPAC, which raised $414m in its 2007 IPO, will legally have to liquidate in October if shareholders say no.
2 min read · 21 January 2013
