Investing

Empire State Building Gains Broad Support for IPO; Small Group of Investors Still Opposing

New York’s legendary Empire State Building is reportedly inching closer to its proposed IPO. Malkin Holdings LLC, the company that controls the building, declared that they have garnered three quarters of favorable votes from the building’s shareholders who have voted so far. However a small group of investors have been opposing the plan.

TPG Capital to Launch its First Real Estate Fund with $1 Billion Target

TPG Capital, one of the largest global private equity investment firms will be launching its first real estate investment fund with a target of at least $1 billion. The company expects to start raising capital for the fund by the second quarter of 2013.

Starwood Hotels to Expand into Middle East and Africa by 2017

Starwood Hotels and Resorts Worldwide Inc. announced on Tuesday, March 12, that it will be opening 50 new hotels by 2017 in the regions of Middle East and Africa (MEA). The step comes as an effort to expand into the developing economies of the world.