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SEGRO, the UK real estate investment trust (REIT), has announced that Justin Read, the firm’s group finance director since August 2011, will step down later this year.
Columbia Property Trust has sold its 653,000 sq ft office property in Baltimore, Maryland and will use the proceeds to repay a $119 million short-term bridge loan and borrowings on its unsecured credit facility.
Thailand’s Golden Ventures REIT aims to raise 10 billion baht ($283 million; €258 million) to invest in the leasehold rights of two Grade A office buildings in Bangkok’s prime area. The REIT was set up by Univentures and Golden Land, two of Thailand’s major property developers.
TPG has acquired the majority of a $2.5bn portfolio of high-yield real estate loans from Deutsche Bank’s Special Situations Group, taking along with it a team of 11 origination and risk management professionals. The private equity firm, through a newly-formed REIT called TPG Real Estate Finance Trust (TRT), acquired a 75% stake in the existing portfolio, and it has raised $750m in capital from institutional investors for new loan originations. Deutsche Bank retains a 25% interest.
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