Zoe Hughes

The talk of the town has been the potential for LPs to default on capital calls. It may be just noise at the moment but it is raising questions about counterparty risk. For their part, LPs want greater transparency for their cash. PERE Magazine December 2008/January 2009

From January 2009, Apollo Real Estate Advisors will be known as Area Property Partners. Senior partner Lee Neibart explains the change and where Area's focus will be in the future. PERE Magazine December 2008/January 2009 issue

While most people cling to their jobs during an economic downturn, some private equity real estate players opt to do the opposite by spinning out from their existing firms. It has a lot to do with carry. PERE Magazine December 2008/January 2009 issue

As some LPs actively seek to liquidate their real estate assets in the secondaries market, other more well capitalised limited partners are eyeing the sector as a potential investment opportunity. However with so much uncertainty in the market, the task of underwriting those positions is now much more daunting. PERE Magazine December 2008/January 2009 issue.

Just $57bn was raised in value-added and opportunistic real estate vehicles in 2008 compared to $85bn in 2007. Asia, however, has become the investment destination of choice overtaking strategies focused on North and Latin America.

As the real estate industry looks forward to 2009, PrivateEquityRealEstate.com looks back at the past 12 months and the most read stories of the year. Dreier founder, Marc Dreier, admitting to key aspects of a $113m scam was the number one story.

Morgan Stanley Real Estate focuses on commingled fund operation as it pulls out of the separate accounts business.

The Middle Eastern market is being affected by the credit crunch as it looks to cut back on ‘overcapacity’. The investment bank operates various private equity and real estate funds, including a $533m Saudi hospitality fund.

The retirement community REIT, American Land Lease, will be bought by the Chicago-based private equity real estate firm. The deal is expected to close early 2009.

As real estate markets globally start the process of deleveraging and repricing, private equity real estate veterans in Canada say the country is well placed to handle the downturn – but warn deal flow is off at least 40% over the past year, with cap rates up at least 1%.