The latest quarterly report from the US Real Estate Roundtable warns that 95 percent of real estate chief executives feel that access to debt financing is worse than 12 months ago, with almost nine out of 10 professionals saying commercial asset values will stay flat or even drop over the coming year.
The real estate arm of the US pension fund and asset manager is targeting commercial real estate opportunities in the UK and Europe with its first international office. Former Invesco retail executive Paul Wilson will lead the effort.
Atlantis Plastics has sold off its molded plastics business to the KPS Special Situations spin-out as the distressed plastics company enters into Chapter 11.
The asset management division of German commercial real estate investor Dawnay Day Sirius has been restructured. Geneva-based activist investor Principle Capital Holdings is buying troubled Dawnay Day's 48 percent stake.
The Washington DC-based firm will provide growth equity to Three Seasons Capital-backed Vehicle Production Group, which has created a car for individuals with mobility problems, as well as taxis and other specialty markets. In related news, Perseus has likely lost out on its bid for bankrupt Frontier Airlines.
The private equity mega-firms have agreed to purchase some $8bn in debt from Royal Bank of Scotland in addition to $5bn in debt related to the $18bn buyout of Clear Channel by Bain Capital and Thomas H Lee.
Brookwood Value Partners, an affiliate of private equity firm Brookwood Financial Partners, has picked up nearly 400 residential lots in The Grove planned community in Southwest Florida.
Development, agricultural or beachfront-land is proving the next hottest commodity for private equity real estate.
The Los Angeles-based private equity real estate firm spent one month raising capital for its distressed credit fund, raising a total of $900m from existing investors. The fund is expected to invest in distressed property debt and operating companies with strong real estate components.
The Canadian power generation company has rejected an all-cash take-private by LS Power Equity Partners and Global Infrastructure Partners saying that the firms’ ‘highly conditional approach’ undervalues the company.