Real-estate funds saddled with boom-time properties are getting relief from Wall Street firms and other investors hoping to capitalize on their need for cash.
The U.K. office and retail REIT's strategy is to sell mature properties in order to raise cash for new investments.
The estate of bankrupt securities firm Lehman Brothers has filed court papers to foreclose on Hawaii's Ritz-Carlton Kapalua resort, continuing the carnage in that state's hotel sector.
Morris Bailey and Dennis Gomes are paying $35 million for Resorts Atlantic City, at a time when gambling revenue is declining and customers are being siphoned off to Pennsylvania venues.
The bank is selling its mortgage on the Viceroy Anguilla to Starwood Capital Group at a hefty discount, the latest example of capitulation by a bank that has nursed a troubled real-estate project for years.