News & Analysis

As investors start to eye distressed real estate investment trusts, the US’ second largest mall owner reveals it has not reached 'unanimous agreement' to extend $900m in debt on two Las Vegas loans. The firm is in talks with its lenders, after the loans were due for repayment last Friday.

The student housing developer has sold 13 properties across the UK to the Unite UK Student Accommodation Fund, its own co-investment vehicle.

LPs in Lehman's private equity funds have retained Kirkland & Ellis and private equity advisor StepStone to guide them through the auction of Lehman's venture and private equity funds. The bank also hopes to close a deal on its real estate funds in the first half of 2009.

CDH Investments has teamed up with Goldman Sachs to provide growth capital funding to Himin Solar Energy Group. The capital will help push the company, which makes products like solar water heaters and solar lamps, towards an initial public offering.

The asset management arm of the German insurance firm has appointed Stefan Brendgen as its chairman and CIO with effect from next year. The move will release current CEO Karl Ralf Jung to return full time to managing Allianz’s private equity, real estate and infrastructure investments.

The Chicago-based private equity real estate firm has acquired two student housing complexes for its $280 JV fund, Place/BV Student Housing Fund. The properties serve the University of Arkansas and the University of Nevada, Las Vegas.

Fund managers will however see opportunities in REITs, discounted fund interests, non- and partially-performing loans and defaulting land and development deals, according to LaSalle Investment Management’s annual strategy report.

The European industry property company says the general freeze in real estate transactions has prevented it from selling as much of its Italian portfolio as it had hoped. By year end, Spazio says it expects to have sold just €70m, half its original target.

The listed French private equity firm will have to partially write down its investment in Las Vegas casino operator, Station Casino, but it says its portfolio companies are taking necessary steps to weather the global financial storm.

The French private equity firm will “partially” write down its $200m investment in US casino operator, Station Casino. Station is majority-owned by Colony Capital. Another Eurazeo-Colony investment, Accor, has also been hit by the economic downturn forcing the firm to inject an extra €200m into the hotel group.