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Volume 4 - Number 7 | April 4, 2006
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TOP STORY: Goldman Fund JVs For Mega Retail Property Deal
By Michelle Napoli
The Whitehall Fund of US-based investment bank Goldman, Sachs & Co. teamed with an Essen, Germany-based retailer KarstadtQuelle AG in a corporate real estate transaction valued at 4.5 billion euros (about US$5.56 billion).
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Industry Update: Spirit Finance Issues $302M in Notes
By Michelle Napoli
Spirit Finance Corp. last month sold a privately placed series of mortgage notes with a principal amount of $301.8 million. Net-Lease Mortgage Notes Series 2006-1 is the second such issuance under the REIT’s master funding structure, which was launched in 2005 with a similar $441.3 million issuance of notes.
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Private Investor Closes Pan-European Partial SLB
By Michelle Napoli
Macquarie Global Property Advisors, a private equity investment group headquartered in Bermuda owned by its principals and Australia’s Macquarie Bank Ltd., paid 121.1 million euros (about US$152.1 million) for an eight-property, six-country partial sale-leaseback deal.
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Insider: Anatomy of a Net Lease JV
By Michelle Napoli
A joint venture between Miami-based United Trust Fund Inc. and the Bellevue, WA-based business property division of GE Real Estate has closed on its first two deals, a more than $50 million sale-leaseback with department store company Belk Inc.’s Charlotte, NC office headquarters and, most recently, a $14.4 million acquisition of Point.360’s media center facility in Los Angeles.
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