Five Mile Capital Partners

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.

Starwood Capital, Fortress, DE Shaw and Five Mile have offered $3.5bn for the hotel group’s $4.1bn first mortgage, according to the WSJ.

A Capmark bankruptcy could lead to one of the biggest private equity losses ever. KKR, Five Mile Partners and Goldman Sachs invested $2.1bn in equity in the company in 2006.

Normandy Real Estate Partners’ David Welsh admitted the firm was not prepared for ‘everything’ as it positioned itself to take over the Boston skyscraper. More than $600m of equity and debt was wiped out on the deal after Normandy and Five Mile Capital Partners won the foreclosure auction for the landmark tower.

The Chapter 11 filings of GGP and Extended Stay fuelled visions of steep discounts to be had for investors willing to wade into the quagmire of the US bankruptcy courts. Opportunities borne out of bankruptcy, however, are limited – and only for those with plenty of cash to invest. PERE Magazine, December 2010/January 2011 issue.

Bain Capital has taken out a 15-year lease in New England’s tallest tower, boosting its Boston office space by 154,000 square feet.

Thousands of PERE readers voted for the individuals, firms and organisations they thought stood out from the crowd in 2009. Here we present the global winners. PERE March 2010 issue

Thousands of PERE readers voted for the individuals, firms and organisations they thought stood out from the crowd in 2009. Here we present the global winners.

Despite Prudential Real Estate Investors' global heft, chief executive officer Allen Smith believes the firm is as nimble, and flexible, as any boutique operation. By Zoe Hughes

Fresh from acquiring the landmark John Hancock Tower out of foreclosure, the private equity real estate firm has appointed Mark Roopenian to manage it and other properties in Boston. Roopenian was previously with former Hancock Tower owners Broadway Partners.

The New York-based private equity real estate firm has restructured $459m in mezzanine loans with Lehman Brothers, which had been due in May. However it means handing back three properties and giving full control of seven others to the bank. The properties were purchased from Beacon Capital in 2007.

Otera Capital Corp, part of Canadian pension fund Caisse de depot et placement du Quebec, has reportedly bought part of the 1330 Avenue of the Americas building after the property developer defaulted on a $130 million mezzanine loan.