Friday, 19 December 2014
Last updated 7 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.