The $21bn Austin-based retirement system will increase its overall real estate portfolio from 2% to up to 8% as part of a long-term diversification strategy, investing up to $600m in the next two years.
1 min read · 05 January 2013
The Carlyle Group will purchase roughly $73m of common stock from Virgina-based Hampton Roads Bankshares, part of a $255m capital raise for the bank owner and operator.
2 min read · 05 January 2013
RREEF and ING Clarion’s real estate securities arm have backed Simon Property Group’s revised recapitalisation plan for bankrupt REIT General Growth Properties.
2 min read · 05 January 2013
Fairmont Raffles Hotels International, the hospitality company taken private by Colony Capital and Kingdom Holding Company, is reportedly preparing to sell the legendary Raffles Hotel in Singapore to Qatari Diar. The Qatar sovereign wealth fund has yet to decide on the amount of money required to refurbish the colonial icon.
2 min read · 05 January 2013
TPG Capital and Caruso Capital Partners have formed a joint venture that will invest as much as $750m of debt and equity in retail centers and mixed-use properties in the western US.
2 min read · 05 January 2013
The private equity and real estate giant has reportedly teamed up with a group of investors, led by Centerbridge Partners and Paulson & Co., in a $905m bid for bankrupt hotel chain Extended Stay.
1 min read · 05 January 2013
Colony Capital and Fertitta Gaming, the sponsors that led the bankrupty casino operator's $5.4bn buyout in 2007, have teamed up with some Station Casino lenders to put forward a reorganisation plan.
2 min read · 05 January 2013
The endowment's CIO David Swensen told Reuters 'we continue to be very enthusiastic about exposure to illiquid assets'.
2 min read · 05 January 2013
The Blackstone Group has bought a 60% stake in two shopping centres in Portland, Oregon and Tampa, Florida, from US REIT Glimcher Realty.
1 min read · 05 January 2013
New York-based Och-Ziff Real Estate has partnered with Hard Rock International to develop a $300m hotel and casino in Atlantic City. Och-Ziff has reportedly scaled down its original plans for the land.
2 min read · 05 January 2013
