Robin Marriott

Reports today say the Japanese government, real estate firms, and banks are acting together to establish a fund of up to ¥500 billion to shore up the country’s battered REIT sector by acquiring bonds issued by them.

The vehicle is to invest in shares of major companies involved in energy and infrastructure on the back of a $586 billion economic stimulus package put into place by China.

A survey by Ernst & Young suggests the ability to refinance maturing debt on commercial properties in the next 12 to 18 months is the single most important concern in today’s market.

The Leon Black-led firm has assembled a core group of real estate professionals from Barclays, Goldman Sachs and AREA Property Partners as it prepares to raise an opportunistic private equity real estate fund later this year.

Ford Fraker will augment the firm’s network and relationships in the Middle East, where KKR began operations last year. He remains a shareholder in Trinity Group, a London-based investment bank and placement agent he co-founded in 1996.

The famed hotel on the French Riviera will be offered for sale next week through Jones Lang LaSalle Hotels. The 80-year-old property is used by film stars during the Cannes Film Festival.

Leo van den Thillart, a former global co-head of private funds group at Bear Stearns, has joined Canadian firm Brookfield Asset Management to help with international equity raising and client services.

Los Angeles-based firm Colony Capital is hoping to acquire a stake in struggling Central European property firm Orco, after the company started bankruptcy protection proceedings.

Jon Thompson has joined the firm in the London office to help with fundraising and client functions for the planned real estate fund to be managed by New York-based Apollo Global Management.

Angus Dodd, a former managing director at JER Partners in Europe, has joined US firm Lone Star to search out UK investments.