Lisa Fu
Real estate secondaries transaction volumes fell 39.2% during the first half of 2019 but the dip is expected to be temporary, according to private equity secondary advisory firm Setter Capital.
With the sale of MBS Media Campus, Carlyle rolls the credits on the blockbuster-producing industrial property in California.
Stuart Sziklas will join the firm as head of US custom accounts on September 3, and will lead the portfolio managers overseeing $10 billion across the firm’s separately managed accounts.
The global real estate manager said while tenant bankruptcies have resulted in a $150m loss since 2018, it has a plan to reposition its retail portfolio with more resilient tenants.
The London-based firm's first close on Castleforge Partners Fund III already makes the vehicle more than 85% the size of its predecessor.
As corporate tenants demand flexible office space and amenities, the traditional office industry scrambles to adapt while also continuing to evaluate the risk of taking on a new business model.
Given a family office’s access to long-dated capital, real estate investments seem like a good fit. But management fees continue to be an area of contention.
The risk of currency volatility adds to already low yields, outweighing the rewards that some investors seek from the country.
Growth in the global real estate market was muted across almost all countries in 2018 because of currencies depreciating against the US dollar, according to a July report by MSCI.
Facing a lack of clarity around exits and returns, the vehicle’s LPs have ways to offset the greater risks they are assuming compared with prior funds in the series