Private Equity
Bluerock Residential Growth REIT Inc has acquired Birmingham, Alabama-based Springs at Greystone, a 300-unit multifamily community. The purchase price was about $36.25 million or approximately $121,000 per residential unit.
2 min read · 27 October 2017
Puerto Rico-based family office Grupo Ferré Rangel has launched Kingbird Properties, a real estate investment firm while Antonio Luis Ferré Rangel, chief operations officer of Grupo Ferré Rangel, will serve as Kingbird Properties Chairman and CEO.
4 min read · 26 October 2017
Austin-based Pennybacker Capital, a real estate private equity firm, has raised over $390 million for its fourth fund, according to an SEC filing. The target is $500 million.
1 min read · 25 October 2017
Bedrock/Group LLC, a subsidiary of Breakform Realty Ventures, a real estate investment, management and operations company focused on manufactured housing communities in the U.S., has launched a $75 million private equity fund. The Bedrock MHC Fund II LP will acquire about 20 MHCs.
1 min read · 25 October 2017
Logos India, a joint venture between Macquarie-backed Logos Property Group and Singapore’s Assetz Property Group, will invest up to $800 million in India’s logistics sector, the company said in a statement on Tuesday.
1 min read · 24 October 2017
Rhône Capital has agreed to make an investment of $500 million in global retailer HBC. Also, WeWork Property Advisors, a joint venture between WeWork, an operator of shared office and co-living space and Rhône, has agreed to acquire the Lord & Taylor Fifth Avenue building from HBC in a deal valued at $850 million. The flagship store housed in that space will operate throughout the 2018 holiday season before being turned into WeWork’s New York headquarters, WeWork office space and a redesigned Lord & Taylor store. BofA Merrill Lynch and RBC Capital Markets are serving as financial advisers to HBC while Morgan Stanley is doing likewise to WeWork Property Advisors and Rhône.
10 min read · 24 October 2017
Dallas-based Westmount Realty Capital LLC, a commercial real estate development and investment manager, has hired Shawn M. Riely as director of private capital. Previously, Riely was managing director at Encore Enterprises.
2 min read · 23 October 2017
Blackstone (BX.N), KKR (KKR.N) and some Chinese investors are among potential bidders shortlisted by Link Real Estate Investment Trust (0823.HK) to buy some of its Hong Kong retail assets valued at about $2 billion, sources told Reuters.
3 min read · 23 October 2017
Vestigo Capital Advisors LLP is buying ACCENTRO Real Estate AG from ADLER Real Estate AG. The purchase price is about 180 million euros ($211.4 million). ACCENTRO, of Berlin, is a listed residential property company. Kirkland & Ellis advised Vestigo.
2 min read · 23 October 2017
Avison Young Inc has agreed to buy WHR Property Consultants LLP, a commercial property consultancy business based in Manchester, United Kingdom. No financial terms were released for the deal, which is expected to close within 30 days. The acquisition will bring Avison’s total offices in North America and Europe to 81, compared to 11 nine years ago. Avison, a Toronto-based provider of commercial real estate services, is a portfolio investment of Canadian private equity firm Parallel49 Equity. Between 2011 and 2015, it was backed by Parallel49’s predecessor, Tricor Pacific Capital.
6 min read · 20 October 2017
