The New York-based private equity real estate firm has reportedly written down its $1.45bn investment in the hotel chain to just $742m as of the end of 2008. It has also written down investments in casino company Harrah's Entertainment and semi-conductor unit Freescale.
2 min read · 05 January 2013
Tony James and Wes Edens have each said during earnings calls this week that their firms are eager to do US bank deals, but warned proposed FDIC policies may deter investment.
3 min read · 05 January 2013
The New York-based private equity real estate firms are once again the two largest private equity real estate firms in the world. The top 30 firms raised more than $211 billion in value-added, opportunistic capital over the past five years.
2 min read · 05 January 2013
The pension's former real estate head, Michael Latimer, takes the CIO reins as OMERS prepares to manage third-party money as well as a multi-billion co-investment fund for institutional LPs.
2 min read · 05 January 2013
After much publicity over its $5bn debt-load, the Colony Capital-backed casino operator has filed for bankruptcy protection.
2 min read · 05 January 2013
President and chief executive of Allianz Real Estate Olivier Piani says it is the ‘best time’ to be growing a global organisation. The insurance company expects to grow its allocation to RE to 6% 'and maybe more', with up to a third focused on the US and Asia respectively.
2 min read · 05 January 2013
The Greenwich, Connecticut-based firm has entered into exclusive talks to buy the hotel group, which it would merge with its budget hospitality group, Louvre Hotels. The deal is expected to close on 26 June. Last week, Starwood floated a $500m debt vehicle to target distressed real estate.
2 min read · 05 January 2013
The bank has raised CHF300m for its dedicated green property fund, which will be listed on the Swiss exchange by 2013. The fund will target real estate in Switzerland only.
1 min read · 05 January 2013
Former Hilton Hotels executive, Jonathan Benowitz has joined RockBridge as managing director in charge of the firm’s investment group. Benowitz played a key role in Hilton’s sale to The Blackstone Group in 2007 and has also worked for the Marriott Corporation.
1 min read · 05 January 2013
David Hodes and Doug Weill have left the investment bank's real estate placement group to create their own firm, Hodes Weill & Associates. The pair co-founded the real estate placement agent in 2000 with Bill Thompson, who remains at Credit Suisse along with other senior management.
2 min read · 05 January 2013
