MGPA on the market with $200m price tag

Due diligence is almost finalised on global real estate advisory business MGPA although the price and buyer is yet to be announced. Macquarie Group owns a 56 per cent share in MGPA possibly worth over $100 million and the business itself over $200 million. MGPA has made its success as a private equity real estate […]

Blackstone’s Schwarzman Got $213.3 Million as Profit Rose

Stephen Schwarzman, co-founder and chief executive officer of Blackstone Group LP (BX), received $213.3 million in pay and cash dividends last year, the private-equity firm reported yesterday in a filing, almost matching his payout of $213.5 million a year earlier. Leon Black, co-founder and CEO of Apollo Global Management LLC (APO), received $125.5 million in […]

Canadian pension group buys into GAIF

Canada’s Public Sector Pension Investments fund (PSP) has injected more than $200 million into Goodman Group’s largest unlisted trust, GAIF, underscoring the mounting international appetite for higher-yielding Australian property. The investment into the $4.7 billion Goodman Australian Industrial Fund – the country’s biggest wholesale logistics vehicle – is part of a wider influx of offshore […]

Interest rates lead Meriton to consider borrowing

Meriton, the leading apartment operation founded by billionaire developer Harry Triguboff, has not borrowed to fund a project for 12 years. But that is about to change. Interest rates are dropping ever lower, the development approval process is becoming easier and the banks are keener to fund well-capitalised property groups like Meriton. “I haven’t borrowed […]

Telstra Super likely backer in Charter Hall’s Bunnings deal

The $11 billion fund Telstra Super has emerged as the likely backer of a move by Charter Hall Group to acquire a $230 million portfolio of Bunnings Warehouse properties across Australia. The pair already have close ties, with the Charter Hall Retail REIT last year teaming up with Telstra Super to buy eight shopping centres […]