Renewable energy developer SunRay has reached financial close on a solar power plant project near Rome. €120m of project financing was provided by a three-strong bank syndicate.
The Canadian private equity firm is offering shares in the investment vehicle for C$10 per unit.
A deadline to reach financial close by 1 October came and went, but parties to the deal are still aiming to consummate the transaction. The City of Miami has until 8 October to approve a $50m letter of credit needed for the project to close, according to a spokesperson.
In its pre-close update for the six months ending September 30, the infrastructure investment company saw its junior debt portfolio jump in value by 20% while its overall investments ‘continue to perform satisfactorily’.
On a recent visit to Tokyo, PERE spent time with the head of commercial real estate for Deutsche Bank – the only international investment bank still lending in the country. Borrowers say debt is too expensive, but Doug Smith argues prices are where they should be. PERE magazine October 2009.
Clear views on a cloudy day: four veterans of the US real estate market compare notes high above Manhattan. PERE magazine October 2009
Prudential Real Estate Investors was one of only two private equity real estate firms to survive the RTC intact, becoming – in time – one of the world’s largest real estate investment managers. Despite its global heft though, chief executive officer Allen Smith believes the firm is as nimble, and flexible, as any boutique operation. PERE Magazine October 2009
The investment manager has tapped Cathy Ebert to play the role that placement agents once did. PERE magazine October 2009
The long-term fundamentals for private equity in Iberia remain strong. In the short to medium term, however, life will be tough for the region's GPs. Toby Mitchenall and Andy Thomson explore the reasons why
A challenging economic climate calls for innovative ways of producing greater savings and efficiencies within companies. Kevin Ley and Jennifer Harris explore some ways in which private equity firms, with this in mind, are interacting with their portfolios