The Boston skyscraper was sold for a reported $20.1m, plus the assumption of a $640.5m mortgage, after Broadway Partners defaulted on a loan. Broadway paid $1.3bn for the skyscraper and two other buildings in 2006.
2 min read · 05 January 2013
The US government has no plans to launch another "large-scale" bailout programme for the commercial property sector, but could help through TARP if the industry faces serious problems, the PREA conference was told today.
2 min read · 05 January 2013
The troubled private equity real estate firm has lost control of 120 Howard Street to mezzanine note holder, Prudential Real Estate Investors. PREI financed $23.2m in mezzanine loans at the time of the deal in May 2007.
2 min read · 05 January 2013
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.
2 min read · 05 January 2013
The two real estate fund managers are turning to the public markets to raise capital for their next debt vehicles. Brookfield Realty Capital Corp. and Marathon Real Estate Mortgage Trust are targeting $500m and $300m respectively.
2 min read · 05 January 2013
The founder of RLJ Companies, Robert Johnson, says the US bailout programme will help establish a market price for real estate-related securities – and potentially for banks’ other real estate assets. "It’s not a total panacea but it will help banks that are trying to find market pricing."
2 min read · 05 January 2013
The Dallas-based private equity and real estate investor is expected to garner up to $2bn in commitments by the end of August as part of its efforts to raise $20bn to target distress, according to Bloomberg.
1 min read · 05 January 2013
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.
2 min read · 05 January 2013
Marathon Asset Management recently held a first close reportedly on $400m for PPIP, leaving Oaktree as the last firm to reach the benchmark.
2 min read · 05 January 2013
The Los Angeles-based firm reportedly said it was looking to merge Japan Rental Housing Investments with other J-REITs. Oaktree said the industry was ripe for “consolidation", according to media reports.
2 min read · 05 January 2013
