Newly formed G2 Investment Group, co-founded by J. Todd Morley, David Conrod and Antonio de la Rua, has as its CIO Alan Menkes, a buyout veteran formerly of Thomas Weisel and Hicks Muse.
3 min read · 05 January 2013
The private equity real estate arm of Leon Black’s buyout shop has garnered $107m for its securitised debt vehicle, on top of $317m for its mortgage REIT.
2 min read · 05 January 2013
After months of negotiations, Morgan Stanley has transferred the ownership of five San Francisco offices to AREA, which provided mezzanine financing for the original $2.6bn deal.
1 min read · 05 January 2013
The $138bn pension has joined its neighbour CalPERS in supporting legislation that would prevent the two funds from investing with real estate managers who try to convert rent-controlled apartments. CalSTRS staff will also consider possible penalties for GPs who abuse the ban.
2 min read · 05 January 2013
The West coast debt shop is set to acquire Lehman Brothers Real Estate Mezzanine Partners I and II following 'many months' of negotiations. PCCP will open an office in New York to help deal with the fund workouts.
2 min read · 05 January 2013
As the parent company of CWCapital searches for a buyer, Apollo Global and Centerbridge Capital have reportedly made competing bids, while Warren Buffett is also eyeing the US’ second largest special servicer.
2 min read · 05 January 2013
A study of US CMBS deals reveals that more than 3,500 loans currently have debt service coverage ratios of 1.0x or less. That figure could quickly grow to $75bn as less than half the CMBS universe has reported 2009 financials.
3 min read · 05 January 2013
The real estate group has also sold its debt fund management and servicing arms to Andrew Farkas’ Island Capital Group for $110m as part of the reorganisation.
2 min read · 05 January 2013
The multifamily and healthcare lender and investment firm has bought the California-based origination shop Sierra Capital.
1 min read · 05 January 2013
The US banking regulator, the FDIC, has placed 702 institutions on its “problem list”. Lenders have written off 2.6% of their real estate loans to date – the highest level since records began.
2 min read · 05 January 2013
