Suzanne Weinstock
The occupancy rate of US industrial properties declined by more than 18m sq. ft. in the fourth quarter of 2008 representing the largest quarterly decline since 2002.
The value-added real estate firm has promoted David Streicher to partner and appointed veteran Jennifer Levy as CFO with responsibility for accounting, tax and reporting.
The Fides Real Estate Direct Lending and Distressed Opportunity Fund will launch next month in search of up to $300m. The fund is led by Hagop Sargisian and Jose Quesada.
The bankrupt Tribune Company is nearing a final agreement to sell the Chicago baseball team purchased by real estate mogul Sam Zell. A $900m offer from the head of Chicago investment bank Incapital reportedly beat bids from private equity executives Marc Utay and Leo Hindery.
The Dubai-based investment firm is entertaining bids for the iconic New York store after buying it for $942m in 2007, according to reports. A sale would likely mean a substantial loss for Istithmar.
The private equity firm has brought on Morgan Stanley’s global head of healthcare investment banking, John Moore, to lead its North American healthcare team. The team will focus on global scalability and cost effectiveness.
The bankrupt newspaper company Tribune Company is hammering out a final agreement to sell the Chicago baseball team purchased by real estate mogul Sam Zell to investment bank head Tom Ricketts, according to a report. Ricketts beat real estate investor Hersch Klaff and private equity executives Marc Utay and Leo Hindery.
Joseph Dear, former executive director of the Washington State Investment Board, will take the reins of the pension’s $178bn in assets following the departure of Russell Read last June. Interim CIO Anne Sausboll was recently bumped up to CEO.
Joseph Dear, former executive director of the Washington State Investment Board, will become CIO of the US' largest public pension plan following the departure of Russell Read last June. The hire puts an end to speculation that the CIO role would be filled by Carlyle venture veteran Bob Grady.
The real estate giant leaves behind a real estate empire that was purchased by CB Richard Ellis for $2.2bn in 2006, as well as a private investment office currently deploying $847m in capital. He died on 14 January after starting his real estate career in 1948.