James Comtois
US Bankruptcy Judge James Peck has approved the estate of the former Wall Street banking giant’s right of first offer for half of Bank of America and Barclays’ shares in Archstone for roughly the same price that rival Equity Residential was offered.
US Bankruptcy Judge James Peck has approved the estate of the former Wall Street banking giant’s right of first offer for half of Bank of America and Barclays’ shares in Archstone for roughly the same price that rival Equity Residential was offered.
Blackstone’s credit business GSO Capital Partners has injected The Miller Group with £160m of capital, resulting in a roughly 50 percent ownership stake in the largest privately-owned homebuilder in the UK.
Lehman Brothers has no time to celebrate its move to emerge from bankruptcy, as it is gearing up to fight for control of the largest real estate asset on its books: Archstone.
Amid the court approving the banking giant’s bankruptcy exit plan, Lehman is challenging the validity of Equity Residential’s agreement to buy 26.5 percent of Archstone.
New research from Clairvue Capital Partners reveals that, in an illiquid market, opportunities in two forms of special situations investments – recapitalisations and secondaries – are rising. PERE Magazine, December 2011/January 2012 issue.
The transaction all but completes the global property services firm’s $1.2 billion takeover of the Dutch banking group’s real estate fund management business originally announced in February.
A joint venture between the New York-based private equity firm and the Palm Beach, Florida-based hotel REIT has acquired the 64 hotels owned by Innkeepers for $1.02 billion. Innkeepers subsequently has emerged from Chapter 11.
The sale-leaseback spinoff of WP Carey has joined the investment management subsidiary of Annaly Capital Management to capitalise on the emerging European sale-leaseback market.
The real estate investment arm of Morgan Stanley and The Witkoff Group have purchased 1107 Broadway from Lehman and plan to infuse $100 million into the property to convert it to luxury condos.