Blackstone related stories
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Florida SBA invests in Extended Stay debtDespite reporting -10.15% returns for the state’s largest pension fund, the Florida State Board of Administration says the asset class is performing significantly better than the benchmark.
- GGP to exit bankruptcy in days
After a $6.8bn recapitalisation involving Brookfield, Pershing Square, Fairholme, Blackstone and Texas Teachers, a judge has backed the mall REIT’s plans to leave bankruptcy on or around 8 November.
- GGP exits Chapter 11, eyes $2.2bn equity raise
After a $6.8bn recapitalisation involving Brookfield, Pershing Square, Fairholme, Blackstone and Texas Teachers, GGP will relist on the New York Stock Exchange with plans to sell up to 155m new shares.
- Colony REIT fully invests $292m IPO proceeds
The mortgage REIT eyes a repeat of its recent Extended Stay mezz deal, with president Richard Saltzman saying it would pursue debt opportunities ‘where the air is thinner’ and where less capital was chasing transactions.
- MSREF VII acquires €150m Blackstone mezzanine loan
The $4.7bn global opportunity fund has purchased the restructured mezzanine debt secured by Blackstone’s Hospitality Europe portfolio after the properties’ senior mortgage was renegotiated.
- TPG in final bidding for ING REIM
KKR, Vornado have bowed out of the running to buy the real estate investment management platform, as TPG, CBRE, Jones Lang LaSalle and Ares Capital Management make it through to the final round of bidding.
- Lightstone expands acquisition team with Waterman hire
Kasra Sanandaji has joined the New York-based firm as vice president of investments, following stints at Waterman Interests and Stellar Management. Sanandaji will report to Lightstone investment chief Arvind Bajaj.
- Surprise at the finish
The race for ING REIM nears a conclusion with TPG, CBRE, Jones Lang LaSalle and Ares Capital Management all submitting final bids. Some of the finalists, though, have come as a surprise to the industry.
- Blackstone buys $245m Hawaii mall
The New York-based firm has joined forces with Glimcher REIT to buy the 1.2m sq. ft. retail centre from Northwestern Mutual Life investing roughly $56m of equity in the deal.
- Lightstone Group gears up for 2011
The firm, founded by David Lichtenstein, is staffing up its acquisition team as it looks to target recapitalisation deals, particularly in the multifamily and retail sectors.