Dubai Group Hands Off $1B Portfolio To PE Firm Silverpeak

Law360, New York (December 8, 2011, 7:12 PM EST) -- Dubai Group and its investment subsidiary have agreed to transfer their $1.1 billion U.S. and Germany real estate portfolio to Silverpeak Real Estate Partners, a private equity firm created by a former head of Lehman Brothers Real Estate Partners, the parties said Thursday.

The portfolio includes more than 30 hotels, office and retail properties in the U.S. and Germany, including New York's Essex House hotel, the 80-year-old Central Park landmark that recently completed a $90 million refurbishment.

“Given the volatility of today's market environment, it is...
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