A majority of the city council supports a proposal by the Working Families Party, a grassroots political group, to include carried interest under the city’s 4% unincorporated business tax. The lobby group said 'everyone has to pay their fair share'.
The city will look to invest in domestic infrastructure funds after making an initial investment in the asset class earlier this year and taking a beating in its US equity allocation.
Australia’s Goodman Group has bought out joint venture partner Macquarie Group from several property interests for $A200m. The move is part of a restructuring plan which includes asset sales and a $A955 million ($599 million) capital raising mission.
US and European LPs say they are continuing to grow their mandate for real estate, with private equity the investment vehicle of choice, according to a survey by JER.
The listed real estate fund manager has formed a JV with Capital Realty to help it target Japanese real estate acquisitions through its latest fund, Invista Real Estate International. The fund is being run by investment director Hugo Vere.
With its real estate allocation currently over target and returns in the year to June just 4.9 percent against a benchmark of 10.8 percent, the $15.7bn US pension says plans to commit $100m to the asset class over the next nine months will be put on hold.
The resort operator, which was reportedly in danger of filing for bankruptcy, has refinanced its loan on the day it came due. Intrawest owns and develops resorts in the US and Europe, including Whistler Blackcomb, a host venue for the 2010 Olympic Winter Games.
The firm’s real estate investment trust is making the acquisition. It is the second retail property acquisition in the UK for CBRE Realty Trust.
The largest commercial property lender in Germany and one of the largest in Europe is merging its European structured finance team, likely to lead to 10 job losses.
The real estate investment management firm’s latest vehicle is targeting $1 billion to invest in high-yield commercial and other real estate debt.
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