Blackstone Group LP, the world’s biggest manager of alternative assets including private equity and real estate, agreed to buy a 40 percent stake in Chinese shopping mall developer and operator SCP Co.
Blackstone Group LP raised more than $4 billion in 2009 to buy European property assets anticipating that cash-strapped banks would be forced to sell as the region’s debt crisis worsened. Almost all of it sat idle for two years.
Bank of America Corp. , the largest U.S. mortgage servicer, said it restarted foreclosure sales in most U.S. states after fixing its practices and expects to resume in the remaining states in the current quarter.
CWCapital Asset Management LLC, which represents senior debt holders of Stuyvesant Town-Peter Cooper Village, may be poised to take the title to Manhattan’s biggest apartment complex at a foreclosure sale next week.
Pershing Square Capital Management LP and Winthrop Realty Trust’s $45 million investment in Manhattan’s Stuyvesant Town-Peter Cooper Village is in jeopardy after the companies failed to stop a planned foreclosure sale.