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Alison Granito

The John Hancock Tower in Boston, which was recently acquired by Broadway Real Estate Partners, has a long and colorful history, from falling windows to an in-house squadron of barbers.
Riots broke out in the streets of Budapest after it was revealed that Ferenc Gyurcsany, Hungary’s prime minster, lied about the country’s economic prospects. Despite the political unrest, however, real estate fundamentals in Hungary remain strong.
Hotel veteran William Reynolds will lead the company’s acquisition and development efforts.
Fresh from a post at GE Real Estate, Tom Wagner will join the real estate investment division of Cerberus as a managing director.
The New York-based private equity real estate firm has provided $90m in mezzanine financing to the conversion of a former bank headquarters in Manhattan.
This is the second multi-family investment in the market for the Philadelphia-based investment manager.
The buyers, who include CPG, Goldman Sachs and Perry Capital, may intend to renovate the property.
DLJ Merchant Banking will provide two-thirds of the capital and New York-based boutique hotelier Morgans will provide the rest.
The fund represents the new real estate platform from Goldman alums Daniel Neidich, Steve Mnuchin and Chip Seelig.
The private equity firm’s inaugural real estate vehicle has partnered with California-based multi-family player Bascom to invest in NPLs and distressed properties.

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