Zoe Hughes
As REITs in the US and Japan look increasingly stressed, the chief executive of LaSalle’s Asia Pacific securities division argues there are growing opportunities in Australia’s listed property sector as the industry feels the impact of the credit crunch.
Steve & Barry’s, the discount clothes retailer with 276 stores in the US, cites a ‘liquidity shortfall’ after filing for Chapter 11 protection. Boston-based private equity firm TA Associates held a minority stake in the company, which recently signed-up Sex and the City star Sarah Jessica Parker.
Steve & Barry’s, the discount clothes retailer with 276 stores across the US, cites a ‘liquidity shortfall’ after it filed for Chapter 11 bankruptcy protection. Boston-based private equity firm TA Associates held a minority stake in the firm.
Global Infrastructure Partners and energy company Fortistar have acquired bankrupt Texas power generation plant Channelview after US courts approved the deal last month.
Abu Dhabi Investment Company has reportedly bought a 90 percent stake in Manhattan’s iconic Art Deco building from an arm of Prudential Real Estate Investors. The building is believed to have sold for close to $900m.
The US senior housing real estate investment trust, American Land Lease, is the latest company to announce a strategic review of its assets, including a possible sale of its properties. Since the start of 2008, the US REIT benchmark index, the FTSE NAREIT All REIT Index, has fallen 5.5 percent.
The US senior housing real estate investment trust, American Land Lease, is the latest company to announce a strategic review of its assets, including a possible sale of its properties. Since the start of 2008, the US REIT benchmark index, the FTSE NAREIT All REIT Index, has fallen 5.5 percent.
Mark Preston succeeds Jeremy Newsum as chief executive officer of British property group Grosvenor, owned by the Duke of Westminster. Preston was former head of the firm’s UK operations and fund management business.
Mark Preston succeeds Jeremy Newsum as chief executive officer of British property group Grosvenor, owned by the Duke of Westminster. Preston was former head of the firm’s UK operations and fund management business.
Penn National will receive $225m in cash and $1.25bn in preferred shares after the Fortress and Centerbridge-led deal to buy the casino and race-track company was terminated. Penn said a ‘re-negotiated, reduced purchase price was not a viable option.’