Deals

PERE Magazine December 2008/January 2009 issue

PERE Magazine December 2008/January 2009 issue

PERE Magazine December 2008/January 2009 issue

PERE looks back at the year just passed for the trends that mattered most. Today we look at trend number one - public real estate investment trusts held great attraction for well capitalized private equity real estate firms.

Following weeks of labour union protests, government scrutiny and several extensions of the deal’s closing date, Carlyle has completed its $6.3bn buyout of US nursing home chain Manor Care.

Though still Communist, the country has seen free market reforms and now has two dedicated PERE funds.

As 2007 draws to a close, the end-of-year surveys reveal that despite gloomy predictions for the short-term future, investors in alternatives still view real estate as a safe bet for the medium-term.

Finnish private equity firm Capman has acquired the Stockmann department store and a shopping center from Niam and Goldman Sachs.

The $262m office deal is the latest in a string of private buys in the nation’s capital.

The two are among several foreign investors to have bought a total 15 percent stake in an Indian SPV floated by construction group Shapoorji Pallonji.