Silverpeak Awarded Asset Management Mandate for US & German Portfolio

NEW YORK, Dec. 8, 2011 /PRNewswire/ -- Silverpeak Real Estate Partners ("Silverpeak"), a private real estate investment advisor, announced that it has been engaged by Dubai Investment Group ("DIG") to provide real estate investment management services related to DIG's $1.1 billion commercial real estate portfolio in the US and Germany. Silverpeak will actively manage a portfolio of assets acquired between 2004 and 2008, with a focus on maximizing recoverable proceeds to DIG over the remaining investment period.  The portfolio currently consists of 30 hotel, office and retail properties across 11 separate investments in the US (28 properties) and Germany (two properties).

"Silverpeak was selected based on its best in class experience as an investor, owner and operator of real estate in the US and Europe," said Fadel Al Ali, Acting Chief Executive Officer, Dubai Group.  "Given the volatility of today's market environment, it is critical to have solid resources to best serve the needs of a mixed real estate portfolio.  We believe the Silverpeak team is best equipped for this engagement based on their direct experience in the portfolio's asset classes and submarkets as well as their experience over the course of ten years operating as a premier institutional fund manager."

"We are pleased to have been selected by DIG to carry out this important mandate and remain focused on improving the portfolio's operational performance and positioning," said Brett Bossung, Managing Director and Co-Founder of Silverpeak.  "We see immediate opportunities to work with the existing operating partners to enhance value, and look forward to a constructive partnership with DIG in the years to come."

As part of the mandate, Silverpeak has hired Anthony Juliano, who headed DIG's US and European investment platform, along with two other staff members previously responsible for the investment and asset management activities of the DIG portfolio.  In addition to providing continuity of oversight as the portfolio is transitioned to new management, this group brings a complementary skillset and broad experience base to the Silverpeak team.

About Silverpeak

Led by Mark Walsh and Brett Bossung, Silverpeak Real Estate Partners ("Silverpeak") is the spin-out of Lehman Brothers Real Estate Partners ("LBREP"), which was founded in 2000 to act as Lehman Brothers' real estate private equity business.  As of September 30, 2011, Silverpeak manages over $3 billion in invested equity comprising gross asset value of over $15 billion on behalf of the Lehman Legacy Funds. 

About Dubai Investment Group ("DIG")

DIG is a subsidiary of Dubai Group, a diversified financial services company focusing on banking, investments and insurance. Dubai Group is a member of Dubai Holding, which manages and controls companies across numerous industry sectors, including: real estate, hospitality, finance, healthcare, energy, entertainment, media, tourism and biotechnology.

Advisors

Dubai Investment Group was represented by Morrison & Foerster partners Mark Edelstein and Jeff Temple.  Silverpeak Real Estate Partners were represented by Weil Gotshal partner Michael Bond.

SOURCE Silverpeak Real Estate Partners

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