Private Equity
Los Angeles-based Kilroy Realty Corp, a real estate investment trust company, has named Steve Rosetta as an executive vice president and chief investment officer. Previously, Rosetta worked at Cushman & Wakefield where he most recently was a vice chairman and member of the global advisory board.
3 min read · 16 June 2017
Equistone Partners Europe Limited has made an investment in UK-based Willerby, a maker of static holiday homes. The seller was Caird Capital. No financial terms were disclosed. Lincoln International, Marlborough Partners, Travers Smith, EY, OC&C Strategy Consultants, Newton and PwC advised Equistone on the deal while DC Advisory, DLA Piper, L.E.K. Consulting and PwC advised Caird Capital.
3 min read · 15 June 2017
Madison International Realty, a provider of venture and equity capital to real estate investors, and DDR Corp have recapitalized a joint venture that comprises 52 shopping centers located mostly in Florida and the Southeastern U.S. The transaction, which included repayment of all outstanding mortgage debt, was made with a $707 million mortgage loan.
3 min read · 15 June 2017
Bridges Fund Management has sold London-based Qbic Hotel to Cerberus Capital Management LP. No financial terms were disclosed. KPMG Corporate Finance advised Bridges on the transaction while Addleshaw Goddard provided legal counsel.
4 min read · 14 June 2017
World Class Capital Group, a real estate-focused private investment firm, has acquired a Denver-based self-storage portfolio, which consists of three properties. Great Value Storage, a subsidiary of WCCG, will be managing the assets. WCCG plans on renovating, rebranding and expanding the properties. No financial terms were disclosed.
2 min read · 14 June 2017
Ares Management LP and TruAmerica Multifamily have acquired Broadstone Gateway for $30.75 million. Broadstone Gate, of Phoenix, is a 240-unit family community. Steve Gebing and Cliff David of Institutional Property Advisors represented both parties in the transaction.
3 min read · 14 June 2017
Jernigan Capital has closed a $10.3 million self-storage development project in Petersburg, Florida. The project will feature 310 apartment units and a restaurant. Construction on the project is expected to begin in the third quarter of this year and will be finished in the third quarter of 2018.
2 min read · 13 June 2017
Laurus Corp, a private real estate investment and development firm, has acquired a three-quarter acre site that is adjacent to Hotel Talisa in Vali, Colorado. The current plans for the property are to turn it into a luxury condominium. No financial terms were disclosed.
3 min read · 12 June 2017
Golden Entertainment has agreed to acquire American Casino & Entertainment Properties LLC for $850 million. American Casino owns several properties in Las Vegas, which includes the Stratosphere Casino, Hotel & Tower, Arizona Charlie’s Decatur and Arizona Charlie’s Boulder. J.P. Morgan Securities LLC, Credit Suisse, Macquarie Capital and Morgan Stanley & Co. LLC are providing financial advice to Golden while Goldman Sachs is doing likewise for American Casino, with Sullivan & Cromwell LLP providing legal counsel. Golden is owned by Whitehall Street Real Estate Partners 2007, a Goldman Sachs real estate private equity fund. The deal is expected to close by the end of this year.
7 min read · 12 June 2017
Blackstone Group LP is selling San Francisco’s landmark Ferry Building and two other properties, Bloomberg is reporting. The waterfront icon will go up for sale in coming weeks, the story said. Blackstone invested in the Ferry Building with its $39 billion buy of Equity Office Properties Trust in 2007. Blackstone stands to triple its $3.8 billion equity investment with the sale, Bloomberg said.
1 min read · 12 June 2017
