A candid conversation with Earvin “Magic” Johnson, the former NBA star who has become one of the most visible private equity real estate investors in urban America.
Activity on the ski slopes is heating up as Fortress and Starwood make moves in the sector. Has the time come for a ski resort play?
The board of the Australian retailer has rejected the $12bn offer from a consortium of private equity firms including KKR, Blackstone and Bain Capital.
Real estate investment firm AEW Capital Management has opened an office in Singapore and, in addition to staffing the office, is looking to launch a new regional vehicle.
The latest transaction marks the tenth hotel deal in which the McLean, Virginia-based real estate investor has joined with Denver-based Sage Hospitality Resources.
The New York firm’s European affiliate, Eurocastle Investment, has acquired a €500m portfolio of German office buildings.
The New York-based private equity firm has added Adam Aron, a ten-year veteran of former Apollo portfolio company Vail Resorts, to its roster as a senior operating partner.
Tom Hunter and Bank of Scotland’s £1.1bn bid for care homes builder McCarthy & Stone has trumped Permira and Barclays Capital, who decided not to increase their offer.
Founded in 2003 by former executives of Franchise Finance Corporation of America, Spirit Finance is a publicly listed REIT focused on sale-leasebacks for the retail, service and distribution industries. With balance sheet assets of approximately $2.5 billion, Spirit recently completed the largest retail sale-leaseback ever, the $815 million acquisition of the real estate assets of ShopKo, the retailer recently acquired by Sun Capital Partners. Here, Christopher Volk talks about the ShopKo deal, the economic environment for retailers and why corporate capital efficiency may be the next big wave in corporate America.
Starting from an NYU dorm room in the early 1980s, Joseph Sitt began purchasing property in the blighted neighborhoods of New York and converting them into inner-city shopping strips. Along the way, he built up his own retail chains, renovated outer-borough shopping centers and built Thor Equities into an investment firm with more than $2 billion invested in urban mixed-use strategies across the US. Thor, which closed its first commingled fund in 2004, recently purchased the Palmer House Hilton in downtown Chicago. Here Sitt speaks about urban retail, the need to think multi-dimensionally and the importance of a good sound system.