Zoe Hughes
The Beverly, Massachusetts-based private equity real estate firm appoints a former hedge fund executive to help drive its institutional sales and capital-raising arm, Brookwood Securities Partners.
Confronting an increasingly overweighted private equity portfolio, CalPERS has made $700m in commitments to real estate funds and almost $1bn to four private equity funds.
The property developer and fund manager is reportedly talking to investors about raising another India real estate vehicle. It follows Tishman’s decision to buy out ICICI’s stake in their joint venture company, TSI Ventures India.
The Australian development firm is raising its third institutional opportunity fund targeting the east coast of Australia. It is expected to close on A$200m towards the end of the year.
Investors should look beyond ‘volatile’ short-term concerns in Europe and focus on longer-term issues such as economic growth, liquidity and risk-adjusted performance, according to a report by UK real estate fund manager, Invista. Germany, it said, was one of the most attractive locations.
The Singapore developer and real estate investment firm looks to increase its exposure to Asia’s emerging markets just as it sells the Capital Tower Beijing complex for $352m. It first acquired the property three years ago, while it was under construction.
The Los Angeles-based private equity real estate firm, famed for its opportunistic plays, is expanding into new areas. The move is being spearheaded by Colony president Richard Saltzman, the man credited with creating the first real estate opportunity fund and the modern-day REIT.
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 arm of the Middle East investment bank holds a first close on its Saudi Hospitality Fund on $240m. The fund – said to be the first Saudi Arabia-domiciled private equity real estate fund –will develop 17 hotels and apartments in the kingdom.
The president of JER Partners, Michael Pralle, argues investing in private equity real estate funds could prove a good fit for Middle Eastern and Asian countries rich with petro-dollars. Private equity real estate, he said, provided a 'middle road' to funds wanting alternatives to direct investing and REITs.