Suzanne Weinstock

After talks with Colony Capital fell through, the 50/50 investors came to an agreement with their lenders to finance the completion of City Center in Las Vegas.

Multi-family specialist Covenant Capital Group is targeting $300 million for Covenant Apartment Fund VI.

Perseus Realty Partners has brought on Bill Trimble as its first chief operating officer to oversee administrative functions and investor relations as the firm grows.

The Teacher Retirement System of Texas is set to commit up to $2bn in capital to real estate in an effort to close the 6% gap between its actual and target allocations.

Daniel Cummings, formerly of The Carlyle Group and LaSalle Investment Management, will reportedly take over as managing director of real estate investment for Harvard University’s endowment. The position has been vacant since 2007.

Private equity real estate firm Paladin Realty Partners has partnered with a Brazilian developer to develop up to 3,000 affordable housing units.

The global financial services firm lost $319m in the first quarter of 2009 primarily due to losses on its private equity and real estate investments.

Chetan Dave will take on the mantle of senior advisor at the Mumbai-based joint venture between Sun and AREA Property Partners. Managing director Prakash Kalothia will take his place.

Delayed repricing may finally be on the horizon however private equity real estate players are narrowing their focus to key cities in Russia.

The US’ second largest mall owner, burdened with $27.3bn of debt, has ‘reluctantly’ filed for Chapter 11 bankruptcy protection after unsuccessfully trying to refinance its loans out of court. The REIT has obtained $375m of DIP financing from investment firm Pershing Square to continue operations.