REITs, PE Funds Elbow Family Firms Out Of Big NY Deals

Law360, New York (February 3, 2012, 6:33 PM EST) -- Buoyed by ready access to vast amounts of capital, real estate investment trusts and real estate-focused private equity funds are grabbing New York's biggest property deals, upstaging family-run firms that have been New York’s biggest real estate players for nearly half a century.

Blockbuster commercial real estate deals in the city had until recently been reserved for family-owned firms like Silverstein Properties Inc., Rudin Management Co. Inc. and The LeFrak Organization. Founded in the early 20th century, the family firms grew to dominate the New York...
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