Suzanne Weinstock
The global investment firm’s $8.8bn MSREF VI International fund will reportedly tack on the latest losses onto an existing $1bn shortfall. Morgan Stanley is still fundraising for Fund VII, which has closed on $6bn of commitments against a target of $10bn.
The Singapore government’s real estate investment firm has renamed ProLogis Asian Operations as Global Logistic Properties after buying out the majority of ProLogis’s investments for $1.3bn.
David Moffett has stepped down after six months leaving the US mortgage giant scrambling for an interim replacement. Freddie Mac plans to request more than $30bn in additional capital from the US government after announcing its fourth quarter losses.
The former global co-head of asset management for Lehman Brothers private equity real estate, John McCarthy, has left to join Barry Sternlicht’s Starwood. Jeffrey Disher steps down as head of asset management to return to his earlier role leading Starwood’s acquisitions team.
The New York-based private equity firm’s latest fundraising efforts bring Blackstone’s total dry powder for private equity to $13bn. Reporting a $193.6m fourth quarter loss, Blackstone said it remains focused on investing in non-cyclical industries.
The New York-based private equity firm is sitting on more than $12bn of dry powder for real estate. Reporting a $477.8m fourth quarter loss, Blackstone said it is looking at select investment opportunities while waiting on the sidelines for distressed sellers to come to market in 2010 and later.
The debt-laden REIT says it is examining its future, including potential bankruptcy protection, as it struggles to refinance billions of debt in a stalled refinancing market. The REIT is reportedly in default on loans secured by two malls in Las Vegas, including the Fashion Show Mall.
The real estate investment trust arm of JE Robert Companies has undertaken a 1-for 10 reverse stock split after its average share price dipped below $1 in violation of the New York Stock Exchange’s listing requirements.
The real estate investment firm’s $70m Land Development Fund has entered into a 50/50 joint venture on a 47-acre plot of partially develop land.
The $171bn US pension has bolstered its real estate housing programme, which lost 35% in value over the first half of 2008, with the hire of James Lasher as senior portfolio manager.