Blackstone related stories
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MSREI behind Japan’s largest CMBS defaultThe future of Tokyo’s Shinagawa Grand Central Tower is likely to be determined by The Blackstone Group and other parties after Morgan Stanley Real Estate Investing today defaulted on its $3.3 billion debt – the biggest default ever on a Japanese CMBS debt.
- Square Mile, Blackstone close FDIC Silverton deal
The two firms have acquired a $385m portfolio of hotel loans from the US banking regulator for around 80 cents on the dollar.
- Blackstone buys mezz position in $2.2bn industrial portfolio
News surfaces for the second time this week of a debt acquisition by the New York-based private equity and real estate giant. The firm’s joint purchase of the debt behind 45 hotels was revealed yesterday.
- Apollo shows growth in $480m IPO filing
The Leon Black-led firm has $10bn of dry powder for private equity investments and has spent about half of its $14.7bn seventh fund, which closed in 2008.
- Dealing with the aftershock
A week after Japan’s ‘big one’ finally arrived, the human catastrophe is as yet unmeasured. Still, in the long term, international investors should not turn their backs on the country.
- 2010 PERE AWARDS: North America
Last year was a year of transition, as many firms and individuals struggled to adjust to the new realities of the global real estate markets. It was enough to make even some of the biggest players in the industry throw up their hands in defeat. Yet, for those with savvy and discipline, 2010 proved to be a year of opportunity. So, which firms, individuals and deals stood out from the crowd in North America in 2010? PERE Awards supplement March 2011.
- KKR public investor relations head to depart
Jonathan Levin, who was chosen to lead communications with public investors in 2009 as the firm listed on Euronext, is leaving to join hedge fund Grosvenor Capital Management in Chicago.
- Starwood flies high with awards hat-trick
Starwood Capital Group was victorious three times in the 2010 Global PERE Awards, capping off an extraordinary year for the Greenwich, Connecticut-based firm. Other notable victories were achieved by Blackstone, Carlyle and Harvest Capital Partners.
- AREA sells minority stake to National Australia Bank to fuel growth
The direct asset management arm of NAB has acquired a 35% non-controlling interest in the New York private equity real estate firm as AREA looks to expand its institutional base and fund operations.
- BoAML’s global real estate principal investment head leaves
Doug Sesler has departed from his position as global head of real estate principal investments at Bank of America Merrill Lynch. His departure comes as the Wall Street bank nears the wind-down of the platform.