_Economy and Finance

Blackstone nears takeover for debt-ridden commercial real estate company Multi Corp 30 Aug 2013 Global investment firm the Blackstone Group is nearing the acquisition of European inner commercial retail developer Multi Corp, Bloomberg has reported. http://www.altassets.net/private-equity-news/by-news-type/deal-news/blakstone-nears-takeover-for-debt-ridden-commercial-real-estate-company-multi-corp.html

August 28, 2013 Blackstone debt fund holds final close The Blackstone Group has raised an additional $406 million in equity commitments for its Blackstone Real Estate Debt Strategies II (BREDS II), according to a filing with the Securities and Exchange Commission. http://www.irei.com/blog/?p=1089

Aug 26, 2013 ASIA AMP Capital Raises $300 Million For Infrastructure Debt Fund By GILLIAN TAN Australian investment manager AMP Capital has raised an initial US$300 million for its AMP Capital Infrastructure Debt Fund II from investors in Europe and Asia. http://blogs.wsj.com/moneybeat/2013/08/26/amp-capital-raises-300-million-for-infrastructure-debt-fund/

http://www.efinancialnews.com/story/2012-08-22/renshaw-bay-has-made-its-debut-in-real-estate-debt?ea9c8a2de0ee111045601ab04d673622 Renshaw Bay launches real estate debt fund Mike Foster 22 Aug 2012 Renshaw Bay, the investment boutique led by former JP Morgan banker Bill Winters, has launched its first fund, offering investors the opportunity to invest in real estate debt.

http://news.theregistrysf.com/yelp-occupies-140-new-montgomery/ Yelp Occupies 140 New Montgomery POSTED ON AUGUST 19, 2013 BY PUBLISHER IN AEC, COMMERCIAL, INDUSTRY NEWS By Sharon Simonson Business-review Web site Yelp Inc. has optioned an additional three floors totaling approximately 36,000 square feet at 140 New Montgomery St. in San Francisco.

http://www.bizjournals.com/sanfrancisco/blog/2013/08/sneak-peak-yelp-new-san-francisco-hq.html Aug 19, 2013, 2:58pm PDT Sneak peek: Yelp's new San Francisco HQ set to open J.K. Dineen Reporter- San Francisco Business Times You can say this about the historic Pacific Telephone tower at 140 New Montgomery: they are going to love it on Yelp.

14 August 2013 INVESTMENT FLOWS INTO EUROPEAN RETAIL ARE 43% HIGHER IN H1 2013 Half year investment volumes, at €14 billion, are up by 43% from the €9.8 billion recorded in the first half of 2012. Increased transaction volume is being driven primarily by the increased availability of stock on the market, which is helping to satisfy the latent investor demand for European retail assets. Whilst the traditional powerhouse markets of the UK, France and in particular Germany, continue to see healthy investment activity, investors are broadening their horizons across Europe. Sweden, Poland, Italy, Portugal, Slovenia and Austria, as well as Russia and Turkey, all had active quarters. As investor interest and activity is certainly more widespread than in previous years it is believed that it should sustain volumes over the second half which is traditionally busier than the first. Source: Weight of Money trumps prospects of monetary tightening, JLL Q2 2013 http://www.pradera.com/retail-n...

Irish investors sell Marks & Spencer's London HQ for €240m to Asian property syndicate TOM LYONS – 11 AUGUST 2013 INVESTORS in D2 Private, including David Arnold, the father of actress Leigh Arnold, are close to bagging a significant profit by selling Marks & Spencer's headquarters in London for €240m. http://www.independent.ie/business/irish/irish-investors-sell-marks-spencers-london-hq-for-240m-to-asian-property-syndicate-29489855.html

August 6, 2013 5:30 pm Investment in European industrial property returns to pre-crisis levels By Ed Hammond, Property Correspondent Spending on European industrial property has returned to pre-financial crisis levels as a range of international investors vie for warehouses, logistics hubs and small factories, underscoring the improving sentiment over the continent’s economy. http://www.ft.com/cms/s/0/b98e961e-feac-11e2-b9b0-00144feabdc0.html#ixzz2bKSoAgD6

Goldman to Axa Ride London’s Crossrail Office Boom By Neil Callanan & Patrick Gower - Aug 6, 2013 London’s high-speed rail project is helping to drive an office-building boom on the City of London’s western edge as investors rejuvenate aging sites like Smithfield Market near future transport hubs. http://www.bloomberg.com/news/2013-08-05/goldman-to-axa-ride-london-s-crossrail-office-boom-real-estate.html

Inflation and deflation in this levered world coexist nearly side-by-side. - Bill Gross (1944- )

Starwood Capital Group Purchases Liberty Center in Pittsburgh Transaction includes Federated Tower and the Westin Pittsburgh GREENWICH, Conn., Aug. 2, 2013 /PRNewswire/ -- Starwood Capital Group, a leading global private investment firm focused on real estate, announced today that an entity controlled by Starwood Distressed Opportunity Fund IX has acquired Liberty Center, a prominent mixed-use office and hotel asset located in downtown Pittsburgh's "Golden Triangle." The property was acquired from a partnership that included Forest City Enterprises, Inc. and Jos. L. Muscarelle, Inc., for a gross selling price of $135 million. http://www.prnewswire.com/news-releases/starwood-capital-group-purchases-liberty-center-in-pittsburgh-218083091.html

A Simple Solution for America's Looming Commercial Debt Crisis By JASON GOLD August 1, 2013 As the housing sector continues its apparent recovery, some U.S. lawmakers are turning their attention to a looming crisis in the commercial real estate market, which is threatened by an avalanche of debt as loans made during the heady days of the early aughts start coming due over the next five years. http://www.usnews.com/opinion/blogs/economic-intelligence/2013/08/01/a-simple-solution-for-americas-looming-commercial-debt-crisis