Zoe Hughes
Limited partners urged to start serious discussions with GPs about portfolio and asset valuations, as institutional investors attempt to choose tomorrow’s winners.
The West coast debt shop is set to acquire Lehman Brothers Real Estate Mezzanine Partners I and II following 'many months' of negotiations. PCCP will open an office in New York to help deal with the fund workouts.
Barry Sternlicht, CEO of Starwood Capital, warns the US government's bailout programmes are not needed in today's markets as capital looks to the asset class in the search for yield.
The Los Angeles-based firm has acquired a portfolio of loans from cooperative bank Bankaktiengesellschaft. The loans have a face value of $90m, no financial details were disclosed.
The departure of TCW’s chief investment officer Jeffrey Gundlach has triggered a key man clause in its PPIP fund, according to the US Treasury.
US mall owner Simon Property Group has bought the outlet centre operator Prime Outlets from the private equity firm founded by David Lichtenstein for a reported $700m in cash and the assumption of debt.
Ex-CB Richard Ellis Canada head Blake Hutcheson will become CEO of OMERS' C$12bn real estate arm. He spent the prior 18 months at nascent private equity firm Mount Kellett.
LEM Mezzanine, a mezzanine fund affiliated with Lubert-Adler Real Estate, bought the W Union Square Hotel from the private equity arm of Dubai World in foreclosure for a reported $2m, plus the assumption of debt.
The Dallas-based private equity firm has reportedly raised $1.2bn for its two new funds, including $500m for Lone Star Fund VII and $725m for Lone Star Real Estate Fund II.
There has been little clarity to the US real estate markets in the past year, however things have started to change. At the recent Urban Land Institute conference in San Francisco, PERE assembled a cross-section of industry professionals to gauge their thoughts on the state of the market and the future for private equity real estate. PERE magazine December 2009-January 2010 issue.