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Alternative lenders dominate hotel financing market, says Blackstone

Posted on 05 October 2011 by Laxman  |  Email |Print

Traditional bank lending is being replaced on a large scale by alternative lenders including sovereign wealth funds and insurance companies, Blackstone’s managing director Marty Kandrac said during a conference on hotel refinancing at EXPO REAL.
The US private equity group, which last month took control of UK hotel chain Mint Hotels for around £600 mln (EUR 687 mln), said the deal was financed with a £300 mln loan provided by a number of players, none of which was a bank……………………………………….Full Article: Source

India: Invest in real estate private equity funds to spread risk

Posted on 27 September 2011 by Laxman  |  Email |Print

Realty PE funds generate returns from the real estate market without the risk of locking funds in one property. They tie up with developers which need funds and buy stakes in their projects.
“Realty PE funds are typically development-based and buy stakes in projects. Rental-based funds buy a property with a committed tenant and earn the rent. One key difference is that the rental-based funds do not take any development risk,” says Richa Karpe, director (investment), Altamount Capital Management, which helps many families manage their wealth……………………………………….Full Article: Source

India: PE investment in real estate down 20pct in April-August

Posted on 14 September 2011 by Laxman  |  Email |Print

Private equity investment in India’s real estate sector declined by around 20.2 per cent to $ 831 million (about Rs 3,740 crore) in the first five months this fiscal due to sluggish demand. Factors like the tight availability of funds with PE players and delays in project execution prompted fund houses to adopt a cautious approach toward the real estate sector, according to data compiled by research firm Venture Intelligence.
PE players had pumped $ 1,041 million (around Rs 4,685 crore) into the realty sector during the April-August period of the previous fiscal, as per the data……………………………………….Full Article: Source

India: Realty cos may take a hit from PE’s lien

Posted on 12 September 2011 by Laxman  |  Email |Print

Some cash-strapped real estate players turning to private equity (PE) firms for money are walking into a virtual minefield. Though PE firms have come to the rescue of many developers struggling with falling sales and mounting debt, the way some of these deals are structured could add to their problems later.
Industry sources said that most PE players are demanding 30-40% assured returns on their investments in realty projects, failing which the PE firms would get lien over their properties……………………………………….Full Article: Source

Blackstone Group said to raise $4 bln for its latest real estate fund

Posted on 18 August 2011 by Laxman  |  Email |Print

Blackstone Group LP (BX), the world’s largest private-equity company, told investors it raised $4 billion for its latest real estate fund, four months after kicking off fundraising.
Blackstone Real Estate Partners VII told investors in a letter yesterday that it closed on the first round of the fund’s commitments, according to a person with direct knowledge of the letter who asked not to be named because the communication was private. The New York-based firm said last month it’s aiming to raise about $10 billion for the pool……………………………………….Full Article: Source

India: Realty developer-backed PE funds fail to take off

Posted on 18 August 2011 by Laxman  |  Email |Print

Unitech group, Ackruti’s plans still on paper while Shapoorji’s fund gets few takers. The slowdown in the real estate sector may have seen developers going easy with projects, but even the launch of private equity funds backed by developers have failed to take off.
The fluctuating economic environment has repelled, at least, three real estate developers, who had planned to mop up nearly Rs 3,000 crore from domestic institutional and retail investors last year, from not testing the waters……………………………………….Full Article: Source

India: PE cos shine in downcast real estate sector

Posted on 16 August 2011 by Laxman  |  Email |Print

The realty index is down over 12% in the last week, key policy rates have increased many times over the last 15 months, raw material costs are on the upswing as a result of inflation and homebuyers are cautious. In short, the Indian realty mart is shrouded in uncertainty.
However, for real estate developers looking for growth capital, there seems to be a silver lining over this cloud of uncertainty as the sugar daddies of the financial world, the private equity (PE) funds, are lining up multiple investments into key city residential projects across the metros……………………………………….Full Article: Source

India: Realty PEs raise funds from HNIs

Posted on 20 July 2011 by Laxman  |  Email |Print

Domestic private equity funds in the real estate space are emerging as a popular investment option for a section of the rich and some family offices in the country.
Over the last few years, money from institutional investors that was part of such funds has dried up. Banks have been directed by the central bank to reduce their exposure to real estate. “In such a scenario, people with high networth are investing with fund houses as these offer better yield to the investors,” says Sandeep Kotak , executive vice-president and business head for commercial real estate at Kotak Mahindra Bank………………………………………Full Article: Source

India: Realty funds turn to home market

Posted on 18 July 2011 by Laxman  |  Email |Print

Foreign investors chary for diverse reasons, beside having more restrictions. With global investors keeping away from Indian realty, private equity (PE) fund managers are trying to persuade high net worth individuals (HNIs) and executives of domestic financial institutions to fill the gap.

Hari Krishna, director, Kotak Realty Fund, said, “Foreign LPs’ (limited partners) interest has decreased relatively, following reduction in their AUM (assets under management) due to losses in developed economies. Lack of returns from India from past investments so far is another reason. Also, inflation and corruption scandals are hurting their belief in the India growth story.”………………………………………Full Article: Source

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Private-equity groups said to vie for Anglo Irish U.S. real estate loans

Posted on 14 July 2011 by Laxman  |  Email |Print

Four private-equity firms are leading investor groups seeking to buy the $9.65 billion portfolio of U.S. property loans held by Anglo Irish Bank Corp., according to two people with knowledge of the sale process.
Centerbridge Capital Partners LLC is teaming with American International Group Inc. (AIG), Paulson & Co. and BlackRock Inc. (BLK) to make a bid, while Blackstone Group LP (BX) is working with Deutsche Bank AG (DBK), said the people, who asked not to be named because the process is private……………………………………….Full Article: Source

India: PEs switch focus to rental assets in commercial space

Posted on 12 July 2011 by Laxman  |  Email |Print

Occupied commercial buildings are the new favourites for private equity investors in the real estate sector.
In a property market where developers are trying to manage cash flows to reduce debt and fund development projects, dedicated rental yield funds like IL&FS Milestone Fund and JM Financial Real Estate Income Fund have bought into such assets, while a few new funds are being raised to focus on this segment……………………………………….Full Article: Source

Real estate PE funds not for retail investors

Posted on 12 July 2011 by Laxman  |  Email |Print

If you had invested in one of builder projects in Greater Noida that are in a jeopardy after the Supreme Court judgement establishing the farmers’ rights on the disputed land, your entire money may be at risk. Real estate funds are vehicles that give you exposure to the sector without the risk of one property going bad.
In the absence of real estate investment trusts (Reits) or real estate mutual funds (REMF), what we have in this space is privately sold products, known as real estate private equity (PE) funds, that are not listed on any exchange……………………………………….Full Article: Source

As private investors turn the screws, realtors set to cut prices

Posted on 11 July 2011 by Laxman  |  Email |Print

Many new real estate projects, especially those in which private equity (PE) firms are investing, could see a substantial price correction across India as PE players have begun to dictate the prices to be charged, apartment sizes and project schedules.
“PE players dictate terms like what prices to be charged, whether the project should be affordable or luxury and exact time of its completion,” said Sunil Rohokale, executive director, ASK Investment, which has invested Rs 850 crore till date and recently raised Rs 480 crore. “The increased power of PE players is due to the unavailability of funds from any other source.”………………………………………Full Article: Source

PE firms make 15 investments in real estate

Posted on 11 July 2011 by Laxman  |  Email |Print

The pace of private equity investments in the real estate space is picking up. The April-June 2011 quarter saw 15 investments in real estate projects and companies compared to 9 during the same period last year and 12 in the previous quarter, according to Venture Intelligence , which tracks PE and VC investment activity.
Approximately $504 million were invested by PE firms across 10 deals in this quarter where investment values were disclosed……………………………………….Full Article: Source

Global private equity real estate funds raise $11.2 bln -data

Posted on 05 July 2011 by Laxman  |  Email |Print

Private equity real estate funds focused on the North American property market hogged the lion’s share of the $11.2 billion raised by those with a final close in the second quarter of 2011, research firm Preqin said.

Total commitments were up on the $8.9 billion raised in the first quarter, and on the $7.1 billion raised in fourth-quarter 2010, Preqin said on Monday………………………………………Full Article: Source

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Private RE investors ready for more risk: Preqin

Posted on 04 July 2011 by Laxman  |  Email |Print

Investors have a greater appetite for risk, with opportunistic, distressed and value-added funds being considered more attractive than core and core-plus funds, according to new research by Preqin, a data provider on the alternative assets industry.

About 70 consultants from around the globe participated in the study which looked at current issues affecting the alternative assets industry, where the best opportunities lie, and investment plans for the next 12 months……………………………………….Full Article: Source

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Top 10 private equity RE firms have EUR 25bln in ‘dry powder’

Posted on 08 June 2011 by Laxman  |  Email |Print

The 10 largest private real estate firms, based on capital raised for closed-end funds in the past 10 years, have a combined $37 bn (EUR 25 bn) in uncalled capital, new research by Preqin indicates. About $20 bn is earmarked for investment in North America.
There is a further $121 bn in dry powder available to the rest of the real estate industry, according to Preqin, an organisation that provides financial data on the alternative assets industry………………………………………..Full Article: Source

Blackstone expects more distressed real estate deals in ‘target rich’ U.S.

Posted on 07 June 2011 by Laxman  |  Email |Print

Blackstone Group LP (BX), the biggest private-equity firm, expects more deals in distressed U.S. commercial real estate and says European banks starting to sell troubled property assets present a “sizable” opportunity.
“In the U.S. today I think it’s still a fairly target-rich environment because a lot of assets need to be recapitalized, fixed,” Jonathan Gray, a co-head of the firm’s real estate business, said……………………………………..Full Article: Source

Blackstone said to plan $1.35 bln refinancing of U.S. office buildings

Posted on 02 June 2011 by Laxman  |  Email |Print

Blackstone Group LP (BX) is close to borrowing as much as $1.35 billion from lenders including MetLife Inc. (MET) to replace debt coming due on 21 office properties, according to three people with knowledge of the refinancing.
MetLife, the largest U.S. life insurer, and New York Life Insurance Co. plan to underwrite a two-year senior mortgage of about $850 million, with three one-year extensions, said the people, who asked not to be named because the talks are private……………………………………….Full Article: Source

Blackstone to sell $900-mln Canadian portfolio

Posted on 25 May 2011 by Laxman  |  Email |Print

The world’s largest private equity firm is taking its money out of Canadian real estate to take advantage of surging demand for buildings, flooding the market with $900-million of office buildings.
Blackstone Group LP has conscripted CIBC World Markets to sell its 29 Canadian buildings just as life returns to the Canadian investment market, with cash-rich real estate investment funds looking to invest billions of dollars to expand their portfolios……………………………………….Full Article: Source

India poised for $5 bln wave of PE exits from property-Nomura

Posted on 20 May 2011 by Laxman  |  Email |Print

Private equity investors are poised to exit roughly $5 billion worth of Indian real estate investments in the next two or three years, a Nomura report said, adding pressure to a sector struggling with access to capital and falling property prices.
During the boom years of 2006-2008, India attracted an influx of private equity in property, a big chunk of it structured as debt, and in some cases developers will be forced to buy back the investment from the PE firms, the report said……………………………………….Full Article: Source

India: Concerns among PE firms over enforcing realty share pledges

Posted on 02 May 2011 by Laxman  |  Email |Print

The pledging of shares is a mechanism through which an investor or a lender can ensure a company or a borrower delivers a promised return or repays a loan within the stipulated period. When the company defaults on the pledge, the shares are sold.
PE funds that focus on real estate have got such pledged shares from their portfolio companies……………………………………….Full Article: Source

India: Real estate fund crunch forces cash scrounge

Posted on 25 April 2011 by Laxman  |  Email |Print

Firms resort to structured debt from PEs, land sales to address repayment crisis; project exits, too, for some. Property developers are tiding over a debt repayment problem through structured private equity (PE) deals and expensive loans from non-banking finance companies (NBFCs).
According to PE funds and consultants, many property companies from in and around Delhi and from Mumbai have raised structured debt from PE firms at 16-21 per cent to repay what they’d borrowed from banks……………………………………….Full Article: Source

India: Realty PE funds look at exits worth $1.5-2 bln this year

Posted on 21 April 2011 by Laxman  |  Email |Print

Real estate private equity funds, which invested heavily in the Indian realty market in 2006-07, are seeing a large number of exits this year, and industry experts say the exits are only set to get bigger.
While 2010 saw the exit of only eight realty private equity funds, the January-March, 2011 period alone accounted for the exit of eleven real estate-focused private equity funds. Kotak Realty Fund made an exit worth $177 million in March when it divested Peepul Tree Properties, its information technology office park project to Tata Initiatives Fund I……………………………………….Full Article: Source

Capital raising for private equity real estate yet to recover

Posted on 12 April 2011 by Laxman  |  Email |Print

Private equity-style real estate fund managers have struggled to raise investor capital so far this year despite the emergence of fundraising optimism at the end of 2010, according to Preqin.
The data analysis company found that 17 funds raised an aggregate of $5.8bn (€4bn) in the first quarter of 2011, down from the $6.5bn raised in the last three months of the previous year……………………………………….Full Article: Source

Private equity exits in real estate likely to soar in 2011

Posted on 18 March 2011 by Laxman  |  Email |Print

Private equity (PE) exits in Indian real estate are expected to surge this year, largely through equity buybacks and secondary sales. The exits are mostly a result of the typical three-five year investment horizons of several funds heading to a natural end in 2011-12. The first wave of foreign direct investments in the sector was in 2005-06.
While there were eight exits from realty investments in 2010, valued together at about $1.2 billion (Rs.5,424 crore), there have been six exits worth a combined $124 million this year, according to research firm VCCEdge……………………………………….Full Article: Source

India: Why PE funds give an edge to realty developers

Posted on 18 March 2011 by Laxman  |  Email |Print

Demand for real estate is outstripping supply across all the economic hubs and emerging growth clusters in the country. It is estimated that there is a demand-supply gap of over 30 million units in India.
Over the past decade, as the role of the government in developing housing and commercial infrastructure has decreased greatly, different kinds of players have entered the arena - be it established legendary brand names in other industries or small-time construction contractors or landowners turned developers……………………………………….Full Article: Source

Blackstone said to buy Centro’s U.S. malls for $9.4 bln

Posted on 01 March 2011 by Laxman  |  Email |Print

From Bloomberg: Blackstone Group LP, the world’s largest private-equity firm, agreed to buy Centro Properties Group’s U.S. shopping centers for $9.4 billion, two people familiar with the matter said.
The purchase of 588 malls, at the price they were valued at as of Dec. 31, may allow Centro’s Australian operations to continue as an independent company, said one of the people, who declined to be identified before an official statement. The deal may be announced as early as today, the person said……………………………………….Full Article: Source

Investors uncertain about private real estate in 2011

Posted on 10 February 2011 by Laxman  |  Email |Print

From Reit.com: Private real estate funds are looking less favorable to investors in 2011 when compared to last year, according to a study from Preqin, an alternative asset research firm.
Preqin found that challenges in the industry ranging from market conditions to property prices to private equity’s poor performance in recent years have left investors reluctant to commit to the real estate funds……………………………………….Full Article: Source

India: Builders seek PE money for old land payments, more plots

Posted on 10 February 2011 by Laxman  |  Email |Print

From Livemint.com: Real estate developers are depending heavily on private equity (PE) funds to bail them out to make payments for old land acquisitions and to kick off projects at the land-buying stage.
With bank loans drying up and cash flows under stress due to dipping sales, PE money seems to be the only source of relief……………………………………….Full Article: Source

REITs seek to lure U.S. pension-fund money from private equity

Posted on 08 February 2011 by Laxman  |  Email |Print

From Bloomberg: U.S. real estate investment trusts are seeking a bigger piece of the more than $500 billion of property investments from pensions, aiming to attract money from the private-equity funds traditionally favored by managers.
The National Association of REITs found that a portfolio 30 percent invested in commercial property shares delivered a higher return relative to one more heavily tilted toward private-equity funds, based on a study to be published today on the group’s website……………………………………….Full Article: Source

Half of investors to avoid new ‘PE-style’ real estate commitments

Posted on 08 February 2011 by Laxman  |  Email |Print

From IPE: Almost half of investors who have invested in private equity-style real estate funds in the past will not be allocating new capital to the sector in 2011, according to data analysts Preqin.
A new report, the Preqin Investor Outlook: Real Estate, showed that only 45 of 100 leading investors in private real estate funds would make new commitments over the next 12 months……………………………………….Full Article: Source

The Carlyle Group makes strategic real estate investment in Sweden

Posted on 03 February 2011 by Laxman  |  Email |Print

From Europe-re.com: The global alternative asset manager, The Carlyle Group (Carlyle), has announced an investment in the Swedish real estate market with the acquisition of the Gallerian and Punkt retail gallerias from Boultbee. The purchase price was not disclosed.
Located in the city center of Västerås, approximately 100 kilometers west of Stockholm, the portfolio consists of three properties which together comprises the two gallerias………………………………………Full Article: Source

Property private equity fundraising slows-report

Posted on 28 January 2011 by Laxman  |  Email |Print

From Reuters: The number of real estate private equity fund launches and the amount of equity targeted in 2010 plunged by about a third, with the sector struggling to shrug off its recessionary blues, a survey showed.
Property equity advisor Swisslake Capital AG said 208 new funds were launched globally in 2010, down 35.6 percent on 2009. They were seeking to raise $74 billion, 29.7 percent down on the prior 12-month period……………………………………….Full Article: Source

PE fundraisers ‘optimistic’ for 2011 after a tough 12 months

Posted on 14 January 2011 by Laxman  |  Email |Print

From IPE: The private equity-style real estate funds sector continues to struggle to raise capital from investors, as the latest study from Preqin shows that only 89 funds reached a close in 2010, raising $35.8bn (€27.2bn) in the process.
This is the lowest annual total since 2003, when $14.1bn was raised, according to the data analysis providers……………………………………….Full Article: Source

India: Realty firms tap PE funding to complete projects

Posted on 12 January 2011 by Laxman  |  Email |Print

From Livemint.com: Real estate developers in north India are again aggressively scouting for funds for the completion of residential projects announced much earlier. An estimated $400 mn across 11 deals was invested in real estate projects in north Indian market last year.
New Delhi-based realty firm Parsvnath Developers Ltd (PDL) has raised Rs.100 crore by selling 49.9% stake in a housing project at Ghaziabad to private equity (PE) firm SUN-Apollo India Real Estate Fund LLC……………………………………….Full Article: Source

China: Private investment flows back to home market

Posted on 17 December 2010 by Laxman  |  Email |Print

From Cri.cn: China’s central bank has discovered a backflow of private investment into the real estate market in the fourth quarter after consecutive macro-control measures by the government failed to significantly bring down skyrocketing home prices.
The bank said Wednesday that the real estate market again became the biggest pool for investments in the fourth quarter, following a survey of 20,000 residents in 50 cities, “The Beijing News” reports……………………………………….Full Article: Source

Bargain price comes with challenges

Posted on 13 December 2010 by Laxman  |  Email |Print

From WSJ: A private-equity firm that has been focusing on distressed and unusual New York properties bought a Manhattan office building for $135 million in a sign that there are still bargains in the city’s commercial real estate market for investors who are bullish on the city’s future.
The price Savanna paid for the 513,000-square-foot property at 1375 Broadway came to $263 a square foot. That’s one of the lowest prices paid this year for a New York office building……………………………………….Full Article: Source

India: Realty firms turn to PE investors, NBFCs as banks tighten funding

Posted on 07 December 2010 by Laxman  |  Email |Print

From Livemint.com: Realtors are turning to private equity (PE) investors and non-banking financial companies (NBFCs) for money as banks tighten funding for real estate firms in the wake of the recent bribes-for-loans scam.
At least three real estate companies are currently engaged in talks with PE investors to support their ongoing projects as banks turned risk-averse after transactions with realtors came under the scanner of regulators and investigating agencies, according to investment bankers……………………………………….Full Article: Source

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India: Loan scam may spur private equity funding in real estate

Posted on 06 December 2010 by Laxman  |  Email |Print

From Thehindubusinessline.com: With the ‘bribe-for-loan’ scam casting a shadow over builders’ access to bank lending, real estate funds and private equity (PE) players now sense a business opportunity.
They are actively scouting the deal street for bargains, hoping that the loan scam will put more equity transactions on the table and prompt “realistic” valuations in deal signing……………………………………….Full Article: Source

Baring to enter Indian realty in 6 months

Posted on 03 December 2010 by Laxman  |  Email |Print

From Business-standard.com: Baring Private Equity Partners (BPEP), the global PE major, will begin investing in Indian real estate in the next six months, according to a top executive of the fund.
BPEP India was looking at investing from its $650 million Baring India Private Equity Fund III, said Varun Batra, partner, BPEP India……………………………………….Full Article: Source

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India: Funds continue to play safe with small investments in real estate

Posted on 30 November 2010 by Laxman  |  Email |Print

From Livemint.com: Property analysts say many private equity (PE) funds with a focus on real estate are looking at similar risk-protected deals following several project delays during the downturn.
“The current set of funds are largely domestic capital investors who would help out developers in land acquisition because banks wouldn’t lend towards this,” said Ajit Krishnan, partner, real estate practice, at consultancy Ernst and Young. “Developers, instead of going to individual investors, can approach such new structured funds to raise the money required.”………………………………………Full Article: Source

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India: Real estate funds - New option to invest in realty

Posted on 23 November 2010 by Laxman  |  Email |Print

From Myiris.com: Buying a property after scouting for a good builder or verifying the authenticity of documents and the title of land you intend to invest in are no longer the indispensable hassles of real estate investment. If you are an investor with high net worth and with a good asset allocation in place, real estate funds offered by private equity (PE) investors or venture capital (VC) funds are the more recent options to investing in real estate.
When you invest in real estate funds, you essentially make an equity investment in schemes of PE/VC firms, who in turn invest the money in upcoming or ongoing real estate projects in residential, commercial or retail segments……………………………………….Full Article: Source

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Europe: Private equity players gain ground as retail investors

Posted on 12 November 2010 by Laxman  |  Email |Print

From Propertyeu.info: Private equity players have moved up the ranking of top retail investors in 2010. While listed real estate companies and institutional investors have dominated the top retail deals in Europe since the outbreak of the financial crisis, this year investors representing wealthy families.
This year Amsterdam-listed Corio topped the ranking, following the acquisition of the Multi portfolio in Germany and Spain and deals in Italy and Turkey……………………………………….Full Article: Source

Lennar said to seek $800 mln in funds for Rialto

Posted on 04 November 2010 by Laxman  |  Email |Print

From Bloomberg: Lennar Corp., the third-largest U.S. homebuilder by revenue, is seeking to raise about $800 million from private investors to add funds to its distressed real estate unit, according to three people briefed on the matter.
A first tranche of the offering is being marketed to U.S. and Canadian investors and is expected to close by the end of November, said two of the people, who asked not to be named because the discussions are private……………………………………….Full Article: Source

UK house price growth weakens in Q3 2010

Posted on 29 October 2010 by Laxman  |  Email |Print

From Globalpropertyguide.com: Residential property price increases weakened in Q3 2010 in the UK, with planned spending cuts looming, and a tight mortgage market. The Bank of England is warning of house price falls in 2011.
UK house prices bottomed out in early-2009, after falling for two years. But now the recovery of residential property prices seems to be running out of steam, as suggested by property price changes reported by major housing agencies in Q3 2010………………………………………Full Article: Source

India: PE players back on realty turf

Posted on 19 October 2010 by Laxman  |  Email |Print

From Indiatimes.com: With the country’s real estate sector starting to look up post downturn, and equity markets scaling new highs, private equity (PE) firms have begun focusing on the property turf yet again. These days they are cherrypicking home and office space assets only.
Industry estimates suggests India Inc saw over 150 major deals in the first half of 2010. Of this, a little over 10% were in the real estate sector alone. The current period has also seen a distinct rise in domestic real estate private equity funds, vis-a-vis mainly offshore real estate private equity capital in 2006 - early 2008……………………………………….Full Article: Source

India: Private equity firms returning to real estate

Posted on 24 September 2010 by Laxman  |  Email |Print

From Sify.com: Private equity (PE) firms are returning to real estate investments through projects rather than equity as an easier exit option coupled with the relatively higher returns from the sector helped them overcome their qualms.
Since late 2008, PE investors have been shying away from real estate investments as a stock market downturn took a larger toll on real estate prices, which were then priced higher than the broader market, resulting in many funds burning their fingers……………………………………….Full Article: Source

Foreign funds still wary of indian real estate

Posted on 22 September 2010 by Laxman  |  Email |Print

From Business-standard.com: Having burnt their fingers during the economic slowdown of 2008-09, foreign private equity (PE) funds continue to stay away from Indian real estate, even as domestic funds have taken the lead in property investments.
While domestic funds have put in $864 million (Rs 3,950 crore) in 22 realty deals since January this year, foreign funds have invested a mere $126 million (Rs 575 crore) in only three deals, according to data collated by Venture Intelligence, which tracks PE and merger and acquisitions in India……………………………………….Full Article: Source

Carlyle in running to buy Simon’s stake in 47 Italian malls

Posted on 15 September 2010 by Laxman  |  Email |Print

From Propertyeu.info: Global private equity group Carlyle has made an offer for a 49% interest in an Italian retail joint venture currently held by US-based retail specialist Simon Property Group.
Known as Gallerie Commerciali Italia (GCI), the joint venture owns and manages 47 shopping centres in Italy. Generali is also believed to be interested in GCI……………………………………….Full Article: Source

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