CCMP Capital to buy BGIS for roughly $1 bln


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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CCMP Capital Advisors LP said March 11 that it is buying BGIS for about $1 billion. Brookfield Business Partners is the seller. CEO Gordon Hicks and the management team will remain in place. BGIS is a facilities management company.

PRESS RELEASE

CCMP CAPITAL TO ACQUIRE INTEGRATED FACILITY MANAGEMENT SERVICES COMPANY, BGIS
CCMP Partnering With Management To Support Company’s Continued Innovation and Growth
Business Wire
11 March 2019

NEW YORK and TORONTO, March 11, 2019 — CCMP Capital Advisors, LP (“CCMP”) and BGIS (“BGIS” or the “Company”) today announced that they have entered into a definitive agreement under which affiliates of CCMP will acquire BGIS, a leading integrated facilities management (“IFM”) company, from Brookfield Business Partners for approximately US$1 billion. The Company’s Chief Executive Officer, Gordon Hicks, and the management team will remain in place and work with CCMP to support the Company’s next phase of growth.

Leading the global real

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Colony Industrial sells industrial portfolio to Nuveen Real Estate


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Colony Industrial said Feb. 25 that it sold a light industrial portfolio to Nuveen Real Estate, a division of TIAA, for $136 million. The warehouse portfolio totals 2.3 million square feet and is located in four markets, including eighteen buildings in Atlanta, five buildings in Dallas, five buildings in Houston and six buildings in PA/NJ.

PRESS RELEASE

Colony Industrial Sells Light Industrial Properties to Nuveen for $136 Million

Sale totals 2.3 million square feet of warehouse assets in Atlanta, Dallas, Houston
and Pennsylvania/New Jersey

Dallas, February 25, 2019 — Colony Industrial announced that it closed the sale of a light industrial portfolio on February 20, 2019 to Nuveen Real Estate, a division of TIAA, for $136 million. Colony Industrial is the industrial platform of Colony Capital, Inc. (NYSE: CLNY), a diversified global real estate investment firm with $44 billion of assets under management.

The warehouse portfolio

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Realtors as a Percentage of Pre-Recession Peak


This post is by Barry Ritholtz from The Big Picture


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Zillow: – Half of All U.S. Homes Are More Valuable than Pre-Recession Peak; – The median U.S. home value is $217,300, up 8.3 percent over the past year; – Home values are 8.4 percent higher than they were at the height of the housing bubble; – Median rent rose 1.3 percent over the past year…

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Housing Bubble? What Bubble?


This post is by Barry Ritholtz from The Big Picture


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As real-estate buyers, lenders, and builders got swept up in speculation before the historic housing bust of 2006-09, prices soared even as a flood of new homes came onto the market. That unsustainable combination doesn’t exist today, as told in the latest issue of Bloomberg Businessweek.   The Last U.S. Housing Bust May Be Preventing…

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Returns on U.S. Residential Real Estate


This post is by Steve LeCompte from CXO Advisory


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Personal residences represent the largest asset class allocation for many U.S. investors. What return do they generate, how do their returns relate to stock market returns and how do they vary across Metropolitan Statistical Areas (MSA)? In their January 2019 paper entitled “The Cross-Section of Expected Housing Returns”, Esther Eiling, Erasmo Giambona, Ricardo Lopez Aliouchkin and Patrick Tuijp examine how More

Value of U.S. Residential Land (by County)


This post is by Barry Ritholtz from The Big Picture


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Very interesting data set showing the value of land, minus the structures built on it, across the country: “The analysis provides an unprecedented view into one of the nation’s largest stores of wealth: the dirt upon which homes are built. It was a tremendous technical undertaking to strip away the value of structures and measure…

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MIB: Using Data Visualizations to Explain Housing and Mortgages


This post is by Barry Ritholtz from The Big Picture


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Economics is complex; interest rates and real estate especially so. What do you do if you are the Federal Home Loan Mortgage Corporation, and want your consumers to understand this complicated subject better? Somewhat surprisingly, the mortgage-giant better known as Freddie Mac encouraged Len Kiefer, his its Deputy Chief Economist, to share his research on…

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Transcript: Len Kiefer of Freddie Mac


This post is by Barry Ritholtz from The Big Picture


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  The transcript from this week’s MIB: Len Kiefer, Deputy Chief Economist at Freddie Mac, is below. You can stream/download the full conversation, including the podcast extras on iTunes, Bloomberg, Overcast, and Stitcher. Our earlier podcasts can all be found at iTunes, Stitcher, Overcast, and Bloomberg. ~~~ This is Masters in Business with Barry Ritholtz on Bloomberg Radio. BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS:…

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MIB: Len Kiefer, Deputy Chief Economist at Freddie Mac


This post is by Barry Ritholtz from The Big Picture


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This week, we speak with Len Kiefer from Deputy Chief Economist at Freddie Mac. His primary responsibility is to help develop Freddie Mac’s economic outlook, including forecasts of trends in the US economy and housing markets. Kiefer’s bio says he “helps people understand the economy, housing, and mortgage markets” but that is only a partial description. What he has…

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Eiseman joins ElmTree Funds


This post is by Luisa Beltran from PE Hub Blog: Human Resources


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ElmTree Funds LLC said Jan. 9 that Rick Eiseman has joined the firm as senior vice president of operations and fund management. Eiseman was a senior vice president of asset management for Gramercy Property Trust’s office portfolio from 2016 to 2018.

PRESS RELEASE

ST. LOUIS–(BUSINESS WIRE)–ElmTree Funds, LLC, a leading real estate private equity firm, is pleased to announce that veteran commercial real estate professional Rick Eiseman has joined the firm as Senior Vice President of Operations and Fund Management. In this role, he is responsible for oversight of the Asset Management department including leasing and disposition of properties, portfolio operations and property management functions.
Mr. Eiseman brings to ElmTree more than 20 years of experience, an intimate understanding of real estate markets, longstanding industry relationships, and a track record of exceptional performance. Based out of ElmTree’s headquarters in St. Louis, Mr. Eiseman is also working closely with the

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MIB: How the Co-op King of New York Earned His Crown


This post is by Barry Ritholtz from The Big Picture


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  How do you go from being a literary agent into becoming a professional real estate investor? That was the challenge confronting Francis Greenburger, who picked up extra cash renting out properties while he was still in a teenager. With a $5,000 loan from his father in 1966, he founded what would become Time Equities…

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Transcript: Francis Greenburger, Time Equities


This post is by Barry Ritholtz from The Big Picture


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    The transcript from this week’s MIB: Francis Greenburger, Time Equities, is below. You can stream/download the full conversation, including the podcast extras on iTunes, Bloomberg, Overcast, and Stitcher. Our earlier podcasts can all be found at iTunes, Stitcher, Overcast, and Bloomberg. ~~~ This is Masters in Business with Barry Ritholtz on Bloomberg Radio. BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the…

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MIB: Francis Greenburger, Time Equities


This post is by Barry Ritholtz from The Big Picture


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This week, we speak with Francis Greenburger, real estate developer, literary agent, author, philanthropist and the founder of Time Equities. Early in his career he became known as “the co-op king of New York” for his specialty of converting prewar apartment buildings into occupant-owned residences. He is also the author of Risk Game: Self Portrait of an Entrepreneur. Greenburger began…

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