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...UBSO: 6; L: 7; I: 7; Total: 20The legal team at the bank advised on the sale of UBS and Mitsubishi’s joint venture, Mitsubishi Corp-UBS Realty, to global investment fund KKR for $2bn....
...BT Group, the UK’s largest telecoms group, said that while it was not seeking to procure additional back-up power for the winter, it was assessing which of its non-critical hardware could be switched off...
...One of the investors in the Cerberus group is Kimco Realty....
...The US group appeared to have found a solution this week: buying a smaller rival. The real estate group is acquiring Duke Realty for $25.6bn, including debt....
...Teraco’s previous owners, including private equity groups Permira and Berkshire Partners, will remain minority shareholders....
...News round-up McKinsey’s Bob Sternfels: ‘We’re OK if you don’t agree with us’ (FT) Prologis to buy Duke Realty in $26bn deal (WSJ) Gorman reassures on US economy as markets shudder (FT) BP sells stake...
...Shares in Empire State Realty Trust, owner of the art deco masterpiece that is New York’s most famous skyscraper, have fallen 35 per cent since the coronavirus arrived in the city in February last year....
...Digital Realty, a data centre Reit, paid out about 73 per cent of its cash flow in dividends....
...Jordan Robins, executive vice president and COO of First Capital Realty Inc, which is involved in the retail development of East Bayside, is impressed by forward-looking developers who are willing to commit...
...No wonder Equinix and Digital Realty are battling over the less developed European market....
...As part of a deal with Forever 21 after the company filed for Chapter 11 bankruptcy protection, Vornado Realty Trust more than halved the $20m in annual rent it had been demanding for the celebrated site...
...Mr Barry’s Tru Kids group, which holds the rights to the brand, said the relationship with b8ta would allow Toys R US to “entirely reimagine” its brand....
...Mr Meyer, who is chief financial officer of the JVM Realty corporation, an investment firm specialising in real estate, has served on the board sine 2010 and as chairman since 2017....
...Given agent business accounts for two-thirds of group revenues, Zillow is right to take the hint and email more leads, even if some are low grade. Advertising will return....
...US groups such as Cerberus and Lone Star are among those which bought large amounts of real estate after the financial crisis, including portfolios of non-performing property loans from banks....
...Brookfield Asset Management has agreed to buy Forest City Realty Trust for $11.4bn, in a deal that will see the Canadian-listed asset manager swallow the once-powerful New York property developer built by...
...Earlier this year Brookfield agreed to acquire for Forest City Realty Trust, a New York property developer built by the powerful Ratner family, for $11.4bn and buy shares it did not already own in the US...
...Now, some family members feel cheated by the agreed $11.4bn sale in July of their corporate flagship, Cleveland-based Forest City Realty Trust, to Canada’s Brookfield Asset Management....
...Toys R Us workers who lost their jobs when the heavily indebted retailer collapsed are talking to two buyout firms about a possible hardship fund — but a third, billionaire investor Steven Roth’s Vornado Realty...
...The deal with Brookfield comes months after Kushner Companies clinched a deal with its partner in 666 Fifth Avenue, Vornado Realty Trust, a $14bn US property developer....
...two subsidiaries of the bankrupt solar group SunEdison for $1.4bn....
...Toys R Us entered bankruptcy last September, buckling under $5bn of debt, a decade after it was taken private in a leveraged buyout by KKR, Bain Capital and Vornado Realty Trust....
...Vornado was also expected to retain the retail property at 666 Fifth Avenue, which it purchased from private equity group Carlyle and Stanley Chera’s Crown Acquisitions for $707m in 2012....
...“While Kushner Companies has been a Citi client for years, we dealt exclusively with RFR Realty, the other partner in the joint venture, on this loan.”...
...The US company was taken private in 2005 by private equity buyers Bain Capital, KKR and Vornado Realty Trust....
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