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Among the Partners Group's recent deals, she said, was a $10 million mezzanine loan on a portfolio of commercial buildings throughout the United States, as well as an $11.3 million loan on a collection of residential assets in Germany.
Capping the acquisition spree with what at the time was considered a big coup, Mr. Knapp snatched the residential assets of Cable and Wireless in 1999 from Telewest, which was close to sealing a deal of its own.
Mead said over the next 12 months he expected "residential assets above £2m to rally by up to 20%", and that over the next five years capital values in prime London could double.
As we mentioned briefly, residential properties, there are still plenty of areas where foreclosures are going to go up, and residential assets and the same is going to be true in commercial assets.
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Mario Gaztambide, the vice president for residential asset management of the LeFrak Organization, said interest in lower-priced neighborhoods had surged.
"This building was, for us, a pretty dramatic step up," said Mario Gaztambide, the vice president for residential asset management of the LeFrak Organization.
There is an additional difficulty with this productive factor: the capital stock includes both residential and non-residential assets.
Other options include the sale of about $40 billion of troubled commercial real estate, and the creation of a separate unit that would be owned by Lehman shareholders and house a substantial portion of Lehman's commercial and residential mortgage assets, freeing the investment bank to try to move forward.
On Sunday, General Electric posted a letter on its web site, seeking to calm investors by emphasizing that the majority of its commercial real estate and residential mortgage assets are outside of the United States, whose domestic real estate crisis is at the heart of the world's current credit upset.
True, actuaries do have some of the oddest senses of humor on the planet, but they know their math and they know that continuing exposures to things like what's hidden beneath the "Temporary" Liquidity Guarantee Program (TLGP) and troubled Commercial Real Estate and Alt-A Option ARM Residential loan assets going deep into non-accrual are systemic plagues still lacking real vaccines.
For example, ABCP can be created from any type of asset-backed security, such as student loan, credit card or residential mortgage asset-backed (including prime and subprime) securities.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com