Hints and tips:
...AMG heads off potential conflicts by eschewing full acquisitions and taking stakes in individual asset managers that remain independent and are run separately....
...In the second instance, American Tower, the owner of a network of mobile phone sites, said it would buy CoreSite Realty for $10bn....
...Digital Realty, a data centre Reit, paid out about 73 per cent of its cash flow in dividends....
...Aston Martin chief executive Andy Palmer has stepped down and will be replaced by Tobias Moers, the head of Mercedes-AMG. More here....
...Vornado Realty Trust, which was an equal partner with Bain and KKR in the 2005 buyout, has refused to answer workers’ emails, the Financial Times reported earlier this year....
...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...
...“We are true partners, we’re long-term orientated,” says Mr Healey, who became chief executive in 2005 and chairman in 2011....
...The chief executive of Vornado Realty Trust, the $13bn US property developer and partner to Kushner on the tower at 666 Fifth Avenue, disclosed on Friday that the company was near a deal to sell its 49.5...
...guarantor propped up by US taxpayers a decade ago after the subprime housing crisis, backed a $550m loan to the building’s owners — Moinian Group, among New York’s largest private landlords, and SL Green Realty...
...their business in a takeover of Reuters in 2008, the payday to the company — in which they own 63 per cent — should soften the blow to the reality that they failed to challenge the dominance of Bloomberg LP...
...The stakes are in London-based Winton Capital Group, Capula Investment Management and CapeView Capital, San Francisco-based Partner Fund Management and Philadelphia’s Mount Lucas Management....
...to sell include the obvious — monetisation — as well as the benefit of a formal industry stamp of approval and the chance to use the buyer’s resources to help them grow, according to Sean Healey, whose AMG...
...Mr Schorsch, who stood down from several boards in December to allay investor concerns about corporate governance, will sit as Apollo’s partner on the board of the new venture....
...AMG is among a handful of potential buyers....
...Three minority shareholders — Madison International Realty, Third Avenue Management and EMS Capital — have already indicated their willingness to accept the offer....
...Madison International Realty has become the second shareholder to choose to sell out of Canary Wharf in the face of a determined takeover bid....
...The consortium – which also includes Kimco Realty, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores – will pay around $40 per share for Safeway, including $32.50 in cash....
...Blackstone does not plan to sell any stock and will own about 73 per cent of common shares after the IPO while Centerbridge Partners will own 8.3 per cent, according to filings....
..., Providence Equity Partners, TPG Capital and Thomas H....
...Working with real estate groups Kimco Realty, Klaff Realty, Lubert-Adler Partners and Schottenstein Real Estate Group, the Cerberus consortium will pay $100m and assume $3.2bn in debt for 877 stores around...
...The IRR for the Asian Realty Income I, launched in 2004, to the same date was 11.75 per cent. Forum’s approach is often intentionally contrarian....
...Debtwire—the most informed news service available for financial professionals in fixed income markets across the world. www.debtwire.com ——————————————————————————————————– Pershing Square Capital and Winthrop Realty...
...Extended Stay, a modest US hotel chain sold by Blackstone for $8bn during the peak of the property market, is expected to end up in the hands of veteran distressed investors Centerbridge Partners and Cerberus...
...Reuters reports that Ackman had nominated himself, former Starbucks chief exec Jim Donald; Richard Vague, former chief exec of Visa credit card issuer First USA; Michael Ashner, chairman of Winthrop Realty...
International Edition