Och-Ziff Capital Management Group LLC is seeking to raise its largest real estate fund ever after a period of change for the firm, including new leadership. Billionaire Dan Och’s hedge fund firm is targeting $2 billion for its fourth fund focused on opportunistic property investments as soon as the end of the year, according to people familiar with the matter. New York-based Och-Ziff has also raised about $750 million for a real estate debt strategy and is gathering a $150 million affordable-housing investment pool, which would be exempt from taxes, said the people, who asked not to be identified because the information is private. An Och-Ziff representative declined to comment. The real estate group, under the leadership of Steve Orbuch, has been a relative bright spot for Och-Ziff, which has been trying to renew investor confidence two years after the firm settled a bribery probe with regulators. The firm’s two most recent real estate funds produced net internal rates of … [Read more...] about Och-Ziff to seek $2 billion for its biggest real estate fund
Biggest real estate investment companies
Mark Goldstein is of counsel for commercial real estate at Bailey Kennedy Attorneys at Law, which last year handled over $100 million in real estate cases. The firm combines real estate and litigation expertise. “We have learned that successful negotiation and drafting of contracts is not enough without the litigation skills to enforce agreements in court,” Goldstein said. What’s trending in the local CRE environment and how do you expect it to evolve in the next year or two? Large, national companies dominate the development of real estate in Clark County. We expect the dominance of national companies to accelerate in the coming years. At times, large national chains are unwilling to make concessions that favor local businesses. For example, office space measured per “usable” square foot by national companies may often be more expensive than Las Vegas tenants expect because national landlords may include space that Las Vegas tenants have considered to be … [Read more...] about Commercial real estate attorney: Without litigators, negotiations are vulnerable
News Sports Business Real Estate Alert 72° Full Menu Alert 72° Home eEdition Customer Service Site Information Contact Us About Us Herald Store RSS Feeds Special Sections Advertise Advertise with Us Media Kit Mobile Mobile Apps & eReaders Newsletters Social Facebook Twitter Google+ Instagram YouTube News Sections News South Florida Miami-Dade Broward Florida Keys Florida Politics Weird News Weather National & World National World Americas Cuba Guantánamo Haiti Venezuela Local Issues Crime Education Environment Health Care In Depth Issues & Ideas Traffic Sports Sections Sports Blogs & Columnists Pro & College Miami Dolphins Miami Heat Miami Marlins Florida Panthers College Sports University of Miami Florida International University of Florida Florida State University More Sports High School Sports Auto Racing Fighting Golf Horse Racing Outdoors Soccer Tennis Youth … [Read more...] about Could virtual reality change Miami’s real estate industry?
NEW YORK - Activist investment firm Starboard Value says retailer Macy's (M) could boost its share price by spinning off its real estate into a separate company or forming a joint venture, saying the shares are worth almost double their current price. Companies including Sears (SHLD) have made similar real estate moves, which are intended to let them get more revenue from property they own. At an investor conference Wednesday, Starboard CEO Jeffrey Smith said Macy's owns $21 billion in real estate, estimating that its flagship location in New York's Herald Square is worth about $4 billion alone, and stores in Chicago and San Francisco are worth about $1 billion each. Smith said the company's stock could be worth $125 a share if it makes the move along with other improvements. Macy's shares closed Wednesday at $72.01, climbing 7.9 percent, or $5.28. They were the day's biggest gainer on the S&P 500, and reached an all-time high of $72.75 during the day. Macy's says it is evaluating … [Read more...] about Activist firm prods Macy’s to spin off its real estate
San Diego has become a more favorable place for real estate investing among big money players across North and South America, said a new study released Friday.The annual report from commercial real estate firm CBRE is a survey of multi-million dollar investment groups — from insurance companies to pension funds — that asks where they are investing and why.How San Diego is ranked: America’s Finest City was ranked No. 11 among most desirable places to invest in real estate, including industrial, multifamily, office and retail. The city moved up from No. 17 last year. Louay Alsadek, an executive vice president at CBRE, said investors are drawn to the San Diego region because of low vacancy rates and a diversified economy. Also, he said a lack of development sites and new office and industrial properties means high rent returns.Why it matters: Real estate investing means pumping money into a local economy from construction of a new building or, what is more likely from … [Read more...] about San Diego becoming hot spot for real estate investing, report says