Dreaming of Yield: Blackstone solidifies its real estate portfolio through $4.7bn Dream Global REIT acquisition

Blackstone Group Inc. (NYSE:BX) – market cap as of 16/09/2019: $63.96bn Dream Global Real Estate Investment Trust (TSE:DRG.UN) – market cap as of 16/09/2019: $3.22bn Intro On September 15, Dream Global Real Estate Investment Trust announced acquisition agreements with affiliates of real estate funds manager, Blackstone, in an all-cash $4.7bn deal. Blackstone will pay $16.79 […]

The Logic of Investing in Logistics

In this article we are going to discuss the increasing importance of logistics real estate and the trends that affected the sector in Europe. We will then explain the main drivers of demand and supply for logistic properties and how these are likely to change in the future years. Finally, after having analyzed the pros […]

Can Next Crisis Come from Canada?

The current bull market has been continuing (with certain fallbacks) for around ten years. This has left people questioning when and, more precisely, where will the next crisis come from. In search of a potential contagion, we had our attention drawn to Canada, a seemingly safe economy which had emerged out of the 2008 crisis […]

Touch a stone and turn it into gold – Real Estate in a nutshell

What is real estate Real estate is a physical ‘bricks and mortar’ investment, where income and value are driven by rents that are paid by tenants under contractually-binding leases. Its subsectors include office, retail, multifamily, industrial, self-storage and hospitality. The main sources of real asset cash flows are derived from rents determined by the leases […]

Cerberus buys major share in BBVA’s real estate assets riding the wave of the Spanish roaring housing market

Banco Bilbao Vizcaya Argentaria S.A. (BBVA:MCE) – market cap as of 1/12/2017: €47.17bn Introduction On November 29, 2017, it was announced that BBVA had sold to the American fund Cerberus the bulk of its real estate business in Spain. Through this operation, the Spanish bank will reduce by 70% its gross property exposure, which currently […]

Emaar lists through an IPO 20% of Emaar Development for $1.5bn

Emaar Development PJSC (EMAARDEV:DFM) – market cap as of 24/11/2017: $6.26bn (AED 23bn) Introduction On November 22, 2017, Emaar Properties sold on the DFM (i.e. Dubai Financial Market) 20% of the shares of its domestic development arm in an Initial Public Offering, at $1.64 per share. Emaar capitalisation at listing was c. $6.56bn with 800m […]

Hong Kong warns: Li Ka-shing sells The Center in US$5.15bn record deal to trim his HK’s assets

CK Asset Holdings Ltd (1113:HK) – market cap as of 05/11/2017: HK$246.07bn Introduction On November 1, 2017, CK Asset Holdings announced an agreement to sell the skyscraper located in Central (Hong Kong) known as “The Center” to C.H.M.T. Peaceful Development Asia Property for a total transaction value of HK$40,2bn ($5.15bn). The sale of The Center, […]

The Effects of E-Commerce on Shopping Malls and on the Consumer Retail Sector – a US Case Study

  Introduction This article will focus on the disruptive effects that e-commerce has on both the real estate and consumer retail sector. Subsequently, the paper will address Amazon and Walmart, as the former represents the incumbent driving this transition and the latter represents one of the main players being affected by the advent of online […]

Oaktree’s Countryside Properties finds its home on LSE, valued at £1.01bn at IPO

Oaktree Capital; market cap as of 04/03/2016: $7.33bn (£5.15bn) Countryside Properties plc.; market cap as of 04/03/2016: £ 1.01bn Introduction On 14 January, 2016, Countryside Properties plc. (Countryside), UK-based real estate developer controlled by private equity firm Oaktree Capital Management, L.P. (Oaktree),announced its intention to proceed with an initial public offering. On 12 February, 2016 […]

Blackstone snatches a “cheap” REIT opportunity

Blackstone Group LP; market cap (as of 10/10/15): $39.6bn BioMed Realty Trust Inc; market cap (as of 10/10/15): $4.8bn   The Deal in Brief On Thursday Blackstone Group LP agreed to buy landlord BioMed Realty Trust Inc, a supplier of office space to healthcare and biotech companies. This represents an important addition to the, already […]

“Wanna Play Big: Scale Up!” – Starwood Waypoint Residential Trust to Acquire Colony American Homes

Starwood Waypoint Residential Trust; market cap (as of 26/09/2015): $953.73m Colony American Homes; market cap (as of 26/09/2015): N.A. Introduction On September 21 Starwood Waypoint Residential Trust (NYSE: SWAY) and Colony American Homes (CAH), two of the largest U.S. single-family home landlords, agreed on the merger in an all-stock deal that would create a real […]

When “The best investment on earth is Earth”: PE and SWF bet on Real Estate

Prologis Inc.; market cap (as of 24/04/2015): $22.18bn Introduction On April 19th Prologis Inc., global leader in industrial real estate, announced its intentions to buy the real estate assets and operating platform of KTR Capital Partners (KTR), a real estate focused private equity company, for a total purchase price of $5.9bn.   About Prologis With […]

Deutsche Bank sells Cosmopolitan casino to Blackstone for $1.7 bn

Deutsche Bank AG Market Cap (as of 16/05/2014): $42.9bn Blackstone Group LP Market Cap (as of 16/05/2014): $32.8bn On 15th May 2014, Deutsche Bank (DB) announced that it would be selling its 100% stake in Nevada Property 1 LLC, the owner of The Cosmopolitan, a popular Las Vegas resort and casino. The sale will be […]

HSBC continues its refocusing effort

HSBC Holdings, Plc Market Cap (as of 8/03/13):  $203.55bn Newcastle Investment Corporation Market Cap (as of 8/03/13): $2.83bn On March the 5th HSBC Finance Corporation, a wholly owned subsidiary of HSBC Holdings Plc, agreed to sell a portfolio of unsecured and homeowner loans to Newcastle Investment Corporation and SpringLeaf Finance, Inc. in a move to […]