Zoe Hughes
The heads of Blackstone and Equity International lead the Forbes 400 list of the richest US investors in private equity. Leon Black, Pete Peterson, David Rubenstein, Tom Barrack, Tony James and Jerry Speyer were among other buyout titans listed.
A report by consultants PKF reveals declining demand and increasing supply will result in two years of decline for the hotel sector – the first time in two decades.
The US industry body, the Real Estate Roundtable, said the US government’s $700bn plan to buy-up troubled mortgage-related assets had a high ‘price tag,’ but argued that it was the best way forward.
The Carlyle co-founder said he and other private equity players would be among the biggest buyers of the distressed mortgage- and real estate-related assets set to be acquired by the US governments’ $700bn financial rescue plan.
Six out of 10 commercial real estate executives believe the credit crisis has now had a greater impact on the real estate industry than during the crisis of the late 1980s, early 1990s. Just 10 percent are ‘bullish’ on the opportunities created by the distress, most attracted to multifamily.
The specter of a return to the 1989 Resolution Trust Corporation was raised today as the US Treasury said it would introduce a ‘relief program’ for troubled mortgage assets. If formed, the program would consolidate an enormous pool of assets for opportunistic buyers to feast upon.
The private investment firm has bought the 70-store retail company, which includes souvenir and Harley Davidson stores, after previously acquiring the company just five years ago. The New York-based firm sold the company three years ago to private equity firm Bruckmann, Rosser, Sherill & Co.
The private equity firms are reportedly in talks with Daito Trust Construction to buy the apartment builder. Daito said it was considering its “capital” position but refused to speculate on the issue.
The property developer and fund manager is reportedly talking to investors about raising another India real estate vehicle. It follows Tishman’s decision to buy out ICICI’s stake in their joint venture company, TSI Ventures India.
The US department store, which filed for Chapter 11 bankruptcy protection in July, has filed a lawsuit against its buyers, including funds controlled by Lubert-Adler, Cerberus Capital and Sun Capital, alleging the firms stripped it of its real estate assets in order to leverage the buyout.