May 31, 2002 Lend Lease Real Estate Investments has finished raising an initial round of equity for Lend Lease U.S. Tactical Office Partners, a real estate fund that will invest in office properties in certain U.S. markets.Based on the capital ...
May 29, 2002CHICAGO – General Growth Properties Inc. (NYSE:GGP) has completed its $250 million acquisition of Victoria Ward Ltd., which owns some prime property in Hawaii.The Chicago REIT had earlier said it would fund its acquisition with $50 million of ...
May 23, 2002 Cendant Corp. (NYSE:CD) has sold its National Car Parks unit for 820 million pounds ($1.2 billion) in cash.Cinven, an equity buy-out firm based in London, is buying the business through a venture called Parking International Ltd. The ...
Cushman & Wakefield has gotten the nod to market a 1.2 million-square-foot office complex in Lowell, Mass. Yale Properties USA and Blackstone Real Estate Advisors have placed an asking price of $167 million on the three-building complex.
May 22, 2002 DALLAS – Prentiss Properties Trust (NYSE:PP) has renewed its $300 million line of credit, extending its maturity date to May 23, 2005, from 2003.The facility carries an initial rate pegged to Libor plus 137.5, but it will ...
May 22, 2002 LONDON – Lehman Brothers and the Witkoff Group have sold the Shell Mex House to a company controlled by the Rotch Property Group Ltd. for 327.5 million pounds (US$477.4 million).Rotch Property is owned by brothers Robert and ...
The joint venture between Lend Lease Real Estate Investments and Hyperion Capital Management is active and looking for yet more CMBS junior portions to buy on behalf of its clients.
May 21, 2002 PARIS – Societe Fonciere Lyonnaise (SFL) has agreed to buy a 50 percent stake in a portfolio of seven properties in downtown Paris owned by Ile-de-France Investissements SA, a French company controlled by the Latsis family.The portfolio ...
The $53 billion pension fund has tapped Bank of America to provide it with a $350 million liquidity facility that will help it fine-tune its portfolio allocations. The credit line carries a rate pegged to Libor plus 60 bp.
May 21, 2002 NEWARK, N.J. – Prudential Mortgage Capital Co. (NYSE:PRU) has provided a $246.5 million mortgage package to General Motors Investment Management Corp. on behalf of the General Motors Pension Plans.General Motors was advised by AEW Capital Management.The funding ...
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