Jonathan Brasse
Citi Property Investors has abandoned efforts to raise a follow-on fund to its 2007 Asia focused vehicle and has decided to give back approximately $400 million to investors.
There is too much confined equity waiting on Europe’s investment market sidelines, according to the head of cross-border capital markets at property services firm Cushman & Wakefield.
The majority of investors led by US private equity firm JC Flowers has rejected Germany’s offer for real estate lender Hypo Real Estate after the board of the bank accepted it. A small minority in the JC Flowers led consortium have agreed to sell their position.
The former senior management team of London based industrial property company GPT Halverton have set up their own investment business, M7 Investment Management.
The private equity real estate arm of property services firm Knight Frank received a takeover bid from Romanian property company Black Sea Global Properties for its London listed European property fund. Fund share values doubled as a result.
London based law firm SJ Berwin is planning to open an office in Dubai, the first for the firm in the Middle East.
European Property services firms are planning to supplement transactional income by growing their fund management businesses and investments in third party vehicles.
Citi Property Investors, which is headquartered in New York, has promoted its India head, Ravi Hansoty, to lead its Asian platform on an interim basis. According to those close to the matter, Hansoty is expected to land the position full time by the end of the year.
In the latest in a series of changes to senior personnel, the Denver-based logistics company has appointed a new head of global investment management and a president for Europe.
LaSalle Investment Management has poached Chris Martin from Australian property Group GPT to become head of asset management.