Grubb & Ellis Healthcare REIT II, has modified its existing secured revolving credit facility with Bank of America, National Association. Under terms of the modification, the credit available under the facility expands to USD45 million from USD25 million. The credit facility may be utilised to fund property acquisitions and for other general corporate purposes.
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Pramerica Real Estate Investors has completed a GBP492 million fund to provide financing for commercial property transactions on behalf of institutional investors in its closed-end Pramerica Real Estate Capital 1 Fund, the company announced today. Pramerica is the European arm of the real estate investment and advisory business of the U.S.-based Prudential Financial, Inc. (NYSE: PRU).
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Piedmont Office Realty Trust, Inc. (NYSE: PDM) has completed a new long-term lease with Chrysler Group LLC for 210,000 square feet at its 1075 West Entrance property in close proximity to Chrysler Group LLC's Auburn Hills, MI. headquarters. Chrysler Group will occupy the entire building, effective July 2011.
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Legal & General Property has acquired One Whitehall Quay in Leeds for its UK Property Unit Trust Fund from Britannia Invest A/S for GBP14.38 million. The purchase price reflects a net initial yield of 7.88%.
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Hines Global REIT has acquired FM Logistic Industrial Park from AIG European Real Estate Partners, LP. The 750,000-square-foot industrial/warehouse complex is located two miles from Sheremetyevo Airport, one of two large international airports in Moscow and the primary hub for cargo transport in Russia.
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The Donaldson Group (TDG) of Rockville, MD and its equity partner, New York-based Angelo, Gordon & Company (AG), have acquired Regency Pointe, a 599-unit apartment community in Forestville, MD for USD20 million.
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European private equity real estate firm Benson Elliot has completed a milestone debt transaction in the Spanish market, securing a prime office investment in Barcelona for Benson Elliot Real Estate Partners III from Spain’s Banco Sabadell.
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Treasury Holdings Real Estate Pte Ltd. the Trustee-Manager of Treasury China Trust (TCT), has launched a unit buy-back programme approved as part of its ongoing proactive management to deliver comprehensive returns to its unitholders under its “Total Return” strategy. Its implementation follows the unanimous approval of the resolution tabled at TCT’s Extraordinary General Meeting of Unitholders on 29 April 2011.
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Carey Olsen senior associate David Crosland (pictured) was called to the Guernsey Bar last month having passed his Bar exams to become an advocate of the Royal Court of Guernsey.
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Gina Germano (pictured), managing partner and head of sub-investment grade at Goldbridge Capital Partners, which launched its first funds this summer...
A look at the options available to managers re-examining their current home jurisdiction in the light of the changes that have swept the alternative investment management industry over the past three years
