Though details remain sketchy, the private equity firm will need to secure additional capital in order to fund the $3.2 billion equity check for Equity Office.
The US buyout firm is taking over Sam Zell’s US real estate investment trust Equity Office Properties Trust amid warnings that the collapse of the large buyout in all sectors of private equity is “inevitable”.
Private Equity International has announced in its November issue a global list of 30 influential lawyers who specialise in private equity.
This is the second multi-family investment in the market for the Philadelphia-based investment manager.
The buyers, who include CPG, Goldman Sachs and Perry Capital, may intend to renovate the property.
Fast expanding Macquarie Global Property Advisors has sold a UK-focused business park for £640 million, more than double what it paid for the company four years earlier.
The alternative investment giant, with a nearly $14bn private equity program, has filed to list on the NYSE in a $750m IPO that aims to sell the public a 10 percent share of the firm.
DLJ Merchant Banking will provide two-thirds of the capital and New York-based boutique hotelier Morgans will provide the rest.
Fresh from its deal to buy into UK ports group Peel Ports, the global real estate manager has announced its involvement in a residential scheme in Zhuhai.
Duke Street Capital founder Edmund Truell’s new company the Pension Insurance Corporation may come to the rescue of buyout firms looking at deals with mature pension fund issues.