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Asset Management

  • June 25, 2015

    SEC Wants Stay Of Ga. Judge's Admin Court Injunction

    The U.S. Securities and Exchange Commission told a Georgia federal judge Wednesday that it would ask the Eleventh Circuit to reverse her decision to grant a preliminary injunction of its in-house suit against an alleged inside trader while also asking her for a stay of the injunction during the appeal.

  • June 25, 2015

    SEC's Aguilar Wants Brokers Bound To Cybersecurity Rules

    U.S. Securities and Exchange Commissioner Luis A. Aguilar said Thursday that rules requiring stock markets and other major market entities to institute robust cybersecurity measures should extend to smaller players such as brokers and exchange agents.

  • June 25, 2015

    US Bank Says Citigroup Pushed Bad MBS In Renewed Suit

    U.S. Bank NA took a swipe Wednesday at Citigroup Global Markets Realty Corp. and CitiMortgage Inc. in New York federal court in a fight over alleged contract breaches relating to mortgage-backed securities sold during the runup to the financial crisis, saying the banking giant knowingly pushed more than 490 shoddy loans.

  • June 25, 2015

    Ashford Strikes $101M Deal For Minneapolis Hotels

    Continuing its buying spree, Ashford Hospitality Trust announced Wednesday that it has struck a deal to pick up a pair of Starwood Hotels & Resorts Worldwide Inc.-branded luxury hotels in Minneapolis for $101 million.

  • June 25, 2015

    Equity Commonwealth Nets $376M In Sale Of Chicago Tower

    Chicago-based real estate investment trust Equity Commonwealth has sold its Illinois Center tower complex for $376 million, the company said Thursday.

  • June 24, 2015

    Charney Launches New $100M Suit Against American Apparel

    Ex-American Apparel Inc. CEO Dov Charney slapped his former company, hedge fund Standard General LP and others with a fresh suit seeking more than $100 million in California state court on Wednesday, adding to growing litigation between the clothier and its founder.

  • June 24, 2015

    Colt, Creditors Achieve Detente With New $75M DIP

    Colt Defense LLC got the blessing of a Delaware bankruptcy judge Wednesday for $75 million in newly arranged financing that provides the iconic gunsmith with $20 million for its Chapter 11 case and defuses an expected financing duel with bondholders.

  • June 24, 2015

    Sabra Health Care REIT Drops $234M On Maryland Facilities

    Sabra Health Care REIT Inc. said Wednesday that it has paid $234 million to acquire four Maryland transitional care facilities and that their leases are expected to generate $24.5 million a year.

  • June 24, 2015

    Commish Urges CFTC To Finish Stalled Governance Rule

    The U.S. needs to implement firm governance rules aimed at raising professional standards governing derivatives markets, Sharon Bowen, a commissioner for the Commodity Futures and Trading Commission, told financial services lawyers Wednesday, saying the finance industry is plagued by “culture” problems that allow for market manipulation.

  • June 24, 2015

    Beware Perils In Nontraded REITs’ Deal Push, Experts Say

    While it may only be for a short window, the nontraded real estate investment trust market's recent push for fast-tracking liquidity events — from mergers and acquisitions to public listings — can bring up issues that require keen legal handling, experts said at a New York conference Wednesday.

  • June 24, 2015

    Aareal Bank Sells Frankfurt Office Building For $103M

    A subsidiary of German real estate bank Aareal Bank Group has sold an office property in Frankfurt, Germany, to German real estate investment firm WCM Beteiligungs- und Grundbesitz AG for roughly €92 million ($103.1 million), Aareal Bank announced on Wednesday.

  • June 24, 2015

    Sahara’s $1.7B Sale Of Hotel Stakes Stalls Amid Investor Suit

    Sahara India Pariwar’s attempt to sell the company’s stakes in New York City’s Plaza Hotel and Dream Downtown as well as London’s Grosvenor House is facing additional delays after a Hong Kong investment company sued Sahara and several others in New York state court alleging they were unlawfully excluded from the deal.

  • June 24, 2015

    Salus Maintains Push To Convert RadioShack To Ch. 7

    Salus Capital Partners LLC is continuing its push to have RadioShack Corp.'s bankruptcy restructuring converted to a Chapter 7, arguing the best way to maximize recoveries for the retailer's creditors is to liquidate the company's remaining assets.

  • June 24, 2015

    SIC Advisors Fund To Issue $2.25B In Stock

    Sierra Income Corp., a fund managed by SIC Advisors LLC, said in a filing with the U.S. Securities and Exchange Commision on Wednesday that it plans to issue $2.25 billion of stock to make new investments.

  • June 24, 2015

    Cox Castle, Dechert Guide $220M Watt-Prudential Refinancing

    The Watt Cos. said Wednesday it has scored $220 million in refinancing for a 903,000-square-foot Los Angeles office complex from Prudential Mortgage Capital Co., a deal Cox Castle & Nicholson LLP and Dechert LLP worked on as counsel for Watt and Prudential, respectively.

  • June 24, 2015

    Ackman’s Pershing Square Holdings Raises $1B In Bonds

    Pershing Square Holdings Ltd., the publicly traded hedge fund run by Bill Ackman, said Tuesday it plans to issue $1 billion in bonds to raise capital for future investments.

  • June 24, 2015

    SEC Says Yes To Tweeting Reg A Securities Offerings

    The U.S. Securities and Exchange Commission on Tuesday gave issuers its blessing to use Twitter and other social media to “test the waters” for securities offerings made under its newly minted updates to Regulation A.

  • June 24, 2015

    Real Estate Rumor Mill: Sam Zell, Hotel Chelsea, Wells Fargo

    A Sam Zell real estate investment trust is reportedly selling a $390 million Chicago retail and office complex, while the owners of the supposedly money-leaking, already $185 million redevelopment of Manhattan’s Hotel Chelsea are said to be seeking a refinancing, and Wells Fargo reportedly has provided a £120 million ($188.2 million) loan for a pair of London office buildings.

  • June 24, 2015

    7th Circ. Upholds $25M CFTC Asset Freeze

    The Seventh Circuit on Tuesday upheld a $25 million U.S. Commodities Futures Trading Commission asset freeze connected to the alleged BC Capital Group SA fraud despite claims of an unlawful cash grab by the funds’ liquidators, saying that a release of the assets could lead to a premature distribution.

  • June 23, 2015

    The Global Hot Spots Of 2015

    Singapore, France and the United Arab Emirates are just a few of the major growth areas for international law firms in 2015, with firms looking to boost their attorney counts in those countries thanks in part to a rise in international arbitration, cross-border deals and energy developments in Southeast Asia.