Blackstone buys Toronto rental development company in a US$3.5-billion deal

New York-based Blackstone, the world’s largest alternative asset manager, says it will pay about US$11.25 per common share for Tricon Residential Inc. which equates to a US$3.5 billion equity transaction. Blackstone will take the Toronto-based rental development company private. Tricon is an owner, operator and developer of about 38,000 single-family rental homes in the U.S. […]

Blackstone takes aim at publicly listed real estate vehicles

Buyout group has spent billions of dollars taking four ‘Reits’ private since start of the pandemic Blackstone has opened a new front in the private capital industry’s quest to supplant the stock market, taking aim at publicly listed real estate investment trusts that have fallen out of favour with investors as inflation and recession fears […]

Short-Term Rentals Attract Private Equity Seeking New Asset Class

Some of the biggest names in private equity firms, hedge funds, and alternative asset management are chasing investments in short-term rentals and vacation rentals as new assets to diversify their portfolios. Veteran, well-capitalized investors such as Blackstone Group, Davidson Kempner Capital Management, and Harrison Street would like to develop exposure to alternative hospitality lodging, according […]

Apollo Is Buying Greenwich Office That’s Popular With Finance Firms

The private equity giant is purchasing 100 W. Putnam Ave. from Boston-based Rockpoint Group for roughly $200 million, according to Joanna Rose, a representative for Apollo. The 155,500-square-foot (14,400-square-meter) property is fully leased, with other tenants including JPMorgan Chase & Co., Strategic Value Partners and UBS. Apollo plans to occupy the first floor and part […]

Dechert expands private equity practice with new London Partner

Global law firm Dechert LLP continues to grow its global private equity practice group with the forthcoming addition of Mark Thompson as a partner in its London office. Thompson is an experienced corporate lawyer. His practice focuses on private equity and real estate, advising a full range of stakeholders across public and private corporate transactions, […]

Maverick Real Estate Partners Holds Initial Closing of Sixth Fund with $230 Million,

Maverick Real Estate Partners LLC held the initial closing of Maverick Lien Fund VI LP, with commitments of over $230 million from pension funds, endowments, foundations, and family offices. The Fund’s strategy is to invest in real estate credit opportunities within New York City. “New York City’s population density generates a gravitational force that attracts […]

Real Estate Witnessed $4,068 Million Private Equity Investment In 2020

Out of the total private equity investment in India, the real estate sector claimed an 11 per cent share amounting to $4,068 million with 21 deals closed during the year India has attracted private equity investments of around $ 38,149 million in the year 2020. Out of the total PE investment, the real estate sector […]

Fort Worth real estate/development firm and private equity firm acquire over 1M SF of industrial/HQ space

Fort Worth-based M2G Ventures, a North Texas-based real estate investment and development company leading through industry disruption, and Pennybacker Capital LLC, a data-driven real estate private equity firm, on Jan. 19 announced the purchase of the 1.19 million square-foot industrial distribution facility and corporate store formerly owned by Tuesday Morning. The properties are located at 14303, 14621, 14601, 14639 […]

The Fight Over JCPenney’s Real Estate Foreshadows the Fate of Malls

Almost every court hearing in the JCPenney bankruptcy case mentioned a fact that, on its face, seems unrelated to the case itself: that the retailer’s successful resolution would save 60,000 jobs. The idea, it seemed, was to drive home the point that the death of JCPenney wasn’t just a sad farewell to a once-proud pillar […]