Hedge Funds Meet Real Estate: A Texas Case Study

https://dailyalts.com/wp-content/uploads/2020/07/kyle-bass.jpg

Hayman Capital in Focus. 

Hedge fund investor Kyle Bass recently bought, among other real estate, the downtown Dallas Statler hotel.  He purchased a 50 percent stake in four real estate properties and a minority stake in the Statler hotel.  In addition to the Statler, he purchased a stake in the Entrada development and the Central Park Riverwalk development.  These developments are part of Centurion American Development Group.  

Furthermore, Bass and Centurion’s CEO Mehrdad Moayedi have previously worked together when they were at odds over a claim of improper investment practices.  Centurion’s affiliate, United Development Funding, was ordered to pay the SEC $8 million.

Kyle Bass is looking to expand and enhance the “go-forward” strategy fostered by Frank Zaccanelli’s companies and developments in Dallas.  Bass claimed in a statement, “The opportunity to invest in distressed real estate projects with one of Dallas’ top real estate minds is an opportunity I couldn’t pass up…Frank and I are dedicated to dismantling the fraud that has plagued these projects in the past in order to have them prosper in the future.” 

Zaccanelli is equally enthused by the transaction.  He stated “The opportunity to form a partnership with Kyle is one of the highlights in my more than 40-year career in business.”  

Kyle Bass is the chief investment officer of Hayman Capital Management.  Hayman is focused on global events and is based in Dallas.  The hedge fund invests with a global and contrarian perspective.

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/01/iran-78829_640.jpg
Digital Assets: Iran Cracks Down On Illegal Crypto Miners
January 19, 2021     Digital Assets, News

Iran, which is facing severe energy shortages during the cold months, has been forced to implement rolling power cuts across the nation. In these circumstances, in a sudden action, police…

https://dailyalts.com/wp-content/uploads/2021/01/reservoir-4730209_640.jpg
Venture Capital: Bill Gates-Backed, CleanTech VC Raises $1B

Breakthrough Energy Ventures (BEV) is a venture capital firm that invests in cleantech. The term describes companies (or technologies) that aim to improve environmental sustainability including the negative impact of…

https://dailyalts.com/wp-content/uploads/2021/01/bitcoin-3083578_640.jpg
Alternative Investments/Digital: The Coinshares Physical Bitcoin (BITC) ETP To Trade On SIX Swiss Exchange
January 19, 2021     Alternative Investments, Digital Assets, News

European digital asset manager Coinshares is launching a new ETP product, the physically backed CoinShares Physical Bitcoin (Ticker: BITC) on the SIX Swiss Exchange today. The ETP enables investors to…

https://dailyalts.com/wp-content/uploads/2021/01/Grab-banner-1.jpg
FinTech: On Rebound From Failed Gojek Merger, Grab Mulls $2B U.S. IPO
January 19, 2021     FinTech, News

Reuters said in an exclusive report on Monday that Southeast Asian ride-hailing, food delivery, and fintech giant Grab was considering a US IPO this year. The news agency quoted three…