The Expo Real property show in Germany has been rocked this afternoon by news that Georg Funke, chief executive officer of Hypo Real Estate, has been forced to resign with immediate effect.
1 min read · 05 January 2013
Completion of the deal with an enterprise value of €4.5bn comes four months after Italy’s Pirelli Real Estate and RREEF said they were among a quartet of investors buying a 49 percent stake in German department store joint venture.
1 min read · 05 January 2013
Hypo Real Estate has provided a €46.9m loan to RREEF’s DB Real Estate Iberian Value Added fund to refinance the acquisition of the Penha Longa Hotel, Spa & Golf Resort.
1 min read · 05 January 2013
The New York State Common Retirement Fund has for the first time backed female-founded Asia Alternatives as well as African American-led GenNx360 Capital. The pension estimates a 20% loss since April.
2 min read · 05 January 2013
The placement agent has moved Franklyn Chang from its Connecticut office and hired former UBS placement agent Christophe Pietersen and Stephanie Brendel, previously with Bear Stearns.
1 min read · 05 January 2013
Songbird Estates, whose main investment is Canary Wharf Group which owns the London-based European headquarters of Lehman Brothers, says the full impact of Lehman’s demise is hard to quantify. Lehman’s leases more than 1 million square feet in a building in Canary Wharf.
2 min read · 05 January 2013
PricewaterhouseCoopers, the administrators to Lehman Brothers in the UK, has discovered more than 200 subsidiaries and joint ventures across the region. Investors are lodging their expressions of interest.
1 min read · 05 January 2013
Tishman Speyer has reportedly bought out its 50 percent joint venture partner in TSI Ventures, giving the US firm full control of the business.
1 min read · 05 January 2013
Talks to sell a stake in the bank’s investment management division, including a $30bn private equity portfolio, will continue, despite its march toward insolvency.
1 min read · 05 January 2013
Sovereign wealth funds have entered British football with The Abu Dhabi United Group, headed by ‘the Donald Trump of Abu Dhabi’, agreeing to buy Manchester City. Dubai International Capital previously tried to purchase a stake in the Tom Hicks-owned Liverpool team.
2 min read · 05 January 2013
