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Real Estate

April 21, 2010

One of the consequences of the financial crisis is that lenders are now scrutinising their security (ie assets earmarked for a lender by a borrower as part of a loan deal when lending and borrowing money) more carefully, writes Max Cole

One of the consequences of the financial crisis is that lenders are now scrutinising their security (ie, assets earmarked for a lender by a borrower as part of a loan deal to the business of lending and borrowing money) more carefully, writes Max Cole.

Agnellis invest in property firm and reportedly eye up private banks

April 19, 2010

Exor, the holding company of Italy’s Agnelli dynasty, has announced that it plans to invest €100 million in Almacantar, a new company specialising in the commercial property market.

Exor, the holding company of Italy's Agnelli dynasty, has announced that it plans to invest €100 million in Almacantar, a new company specialising in the commercial property market.

Founded by Mike Hussey and Neil Jones, two real estate professionals who have previously worked for Land Securities Plc and Grosvenor respectively, Almacantar aims to capitalise on commercial real estate investment and development opportunities, primarily in the market for offices in London and Paris.

David Simon ups pressure on GGP to close deal

April 15, 2010

David Simon, chairman of the board and CEO of family-run Simon Property Group, stepped in personally to try and help force through his company’s hostile takeover of General Growth Properties.

In a letter to his counterpart at GGP yesterday, the second-generation family member offered to match the reorganisation plan put forward by rival Brookfield Asset Management. However, he claimed his offer to invest $2.5 billion was “substantially more favourable to GGP and its equity holders”. His proposal includes a $1 billion co-investment commitment by Paulson & Co.

David Simon goes for broke with $10 billion offer for rival

February 16, 2010

Family-run real estate giant Simon Property Group has made a written offer to acquire rival General Growth Properties in a fully financed transaction valued at more than $10 billion.

Highlighting the company's current cash-rich status, SPG's offer includes approximately $9 billion in cash. Existing secured debt on GGP's portfolio of assets would remain in place.

Pears family teams up with Blackstone to launch new bank

January 21, 2010

The William Pears Group, the property and investment company owned by the UK-based Pears family, are set to co-invest with private equity group Blackstone and investment firm Cambridge Place to launch a new UK bank.

The family has invested £50 million into the venture according to media reports today, although no family members were available to comment when the firm was contacted by www.campdenFB.com.

Murdoch hopes next generation will succeed him at News Corp

November 10, 2009

Rupert Murdoch, chairman of News Corp, has once again reiterated his desire that one of his children to succeed him as head of the international multimedia company.

Rupert Murdoch, chairman of News Corp, has once again reiterated his desire that one of his children to succeed him as head of the international multimedia company.

In an interview with Sky News Australia, Murdoch said: "I am sure one of them will emerge. It would be nice, every parent wants to see that." The family is in control of 40% of the voting rights for the business and, according to Murdoch, has regular succession meetings.

Informed bargain hunting – investing in distressed property

October 26, 2009

Investing in distressed property can prove very lucrative, especially during a recession. The key is knowing the market, thinking long term and choosing the best location

In September 2008, Spanish private bank Banco Urquijo opened its brand-new headquarters to much fanfare on one of Madrid's most exclusive streets. The building on Calle Serrano was unveiled to a 500-strong audience that included some of the biggest names in the Spanish business world.

Finding opportunity in real estate

June 11, 2009

Investment in the property market may seem like an unwise suggestion in the current economic climate, but now is the time to take advantage of the forced-to-sell market. For the long-term investor with a varied portfolio, property can still provide high returns.

Co-investing – be the leaders of the pack

February 27, 2009

How hunting together as a collective can be a lucrative option for family offices

The growing maturity of the family office sector is resulting in businesses increasingly coming together to implement more sophisticated investment strategies.

Over the last three years, a rising number of family offices have co-invested in a dizzying array of deals in areas as diverse as private equity buyouts and commercial property transactions.

Leading German real estate family set for global expansion

February 24, 2009

Germany’s Otto family is to become the leading shareholder in US real estate investment trust Developers Diversified Realty.

Germany's Otto family is to become the leading shareholder in US real estate investment trust Developers Diversified Realty. The family, via its ECE Projektmanagement company, will dramatically increase its shareholding in DDR to over 20%.

ECE, founded in 1965 by Werner Otto, is the European market leader in the field of inner city shopping centers and a sister company of the Otto Group – the world's biggest mail order operator.