Thursday, 26 November 2015
Last updated 22 hours ago
Apr 18 2011 | 12:34pm ET
New York-based Savanna Investment Management, an institutional real estate private equity and asset management firm, exceeded its $400 million target to close its second real estate private equity fund with approximately $550 million of total equity commitments.
“The final closing of Savanna Real Estate Fund II is a significant milestone for us,” said Nicholas Bienstock, a managing partner of Savanna. “We believe we are well positioned in today’s market with the ability to commit discretionary capital combined with our ownership and operating expertise. We are pleased with the broad support we received from our domestic and international investors.”
The firm has been buying New York City office buildings over the past 12 months, completing six transactions totaling 2.2 million square feet.
Savanna, established in 1992, pursues opportunistic real estate equity and debt asset investments throughout the northeastern United States, focusing on directly owning and operating properties in New York City and the Washington, D.C. metro area.
Savanna also selectively invests in real estate debt instruments, including preferred equity instruments, high-yield bridge and mezzanine loans, and B-notes. Since inception, Savanna has invested more than $1.7 billion in total capital over 15.2 million square feet of real property across multiple asset classes and locations.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…