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Eva Poon

The Lightstone-backed hospitality chain is in discussions to turn over the company to its lenders, according to a report. New Jersey-based private real estate company Lightstone acquired Extended Stay from Blackstone last year for $8bn.
The vehicle, Mid-Atlantic Capital Fund, is the first real estate opportunity fund for the Frederick, Maryland-based real estate company.
The deal, which includes residential land in Arizona, California and Florida, follows on the firm’s $150m JV investment with Riverway Properties to target the Houston residential market.
Naresh Naik, former head of asset management for Lehman Brothers in India, joins the private equity real estate unit of Morgan Stanley as an executive director and head of asset management in its Mumbai office.
The US pension committed €200m to Blackstone’s latest Europe-focused property fund, Blackstone Real Estate Partners Europe III.
The Caisse de dépôt et placement du Québec is adjusting its investment strategies in private equity and real estate in response to the global financial crisis.
Investcorp president and chief operating officer Gary Long says the Bahrain-based firm’s investments portfolios were ‘under pressure’ owing to volatility in the financial markets.
The German government and financial institutions have agreed to a second financial rescue package for German real estate lender Hypo Real Estate. It follows on the breakdown over the weekend of the initial €35 billion bailout scheme.
The US Senate has approved the $700bn financial bail-out plan allowing the US Treasury to buy distressed assets in the form of securities backed by home mortgages. The US House of Representatives is expected to vote on the bill Friday.
The Gulf investor is teaming up with a Chinese developer to target $6bn of real estate projects in the country, at the same time as launching a $1.5bn China-focused private equity vehicle.

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