The joint venture that recently raised a $1bn real estate fund is targeting the Florida residential sector. The firms have acquired 500 condos in the Sunshine State ‘at significant discounts.’
The private equity real estate firm has partnered with US-based real estate investment firm ConAm to acquire a 456-unit apartment complex in Sacramento, California. The pair plan to upgrade the property and increase rents.
The private real estate investment firm has acquired nine multifamily properties in the Austin, Texas market, betting on the area’s strong demographics.
The Southern California plant nursery operator, partly owned by CalSTRS, has selected turnaround specialist Black Diamond as its stalking horse bidder. Hines has also secured $62 million in debtor in possession financing from its lenders, which include Cerberus-owned GMAC Commercial Finance.
The buyout firm’s president, Joshua Harris, is relocating to London from New York while former Drexel Burnham colleague Marc Rowan makes the reverse move.
Thompson National Properties, the private equity real estate firm founded by former Grubb and Ellis chairman Anthony Thompson, has opened an office in New York adding a former Wachovia Securities director as managing director to target real estate debt.
Though property sales are healthy in Japan, the balance sheets of many Japanese developers are not.
The listed alternatives firm has exited it June 2006 investment in cable box company Contec to Bain Capital Partners for a reported $525m.
Morgan Stanley Private Equity Asia has pulled out of its proposed acquisition of the Korean electronics manufacturer, reportedly over disputes with an electronics labour union. Ripplewood had previously agreed to pay $740m for Daewoo, but the deal also fell through.
The emerging markets specialist has executed another African PIPE deal, this time taking part of Tunisia’s largest listed company.