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/2021/10/marijuana-g4237088f5_640.jpg
FinTech: AeroPay And Jane Tie-Up To Offer Online Payments For Cannabis
October 15, 2021     FinTech, News

AeroPay and Jane Technologies announced Thursday a partnership to enable online payments via AeroPay across 36 U.S. state markets where cannabis is legal. More than 2,100 dispensaries and 300 companies…

https://dailyalts.com/wp-content/uploads/2021/10/bitcoin-81652-md.jpg
Digital Assets: BoE Official Likens Crypto To Subprime, Warns Of 2008-Like Crash
October 15, 2021     Digital Assets, News, Regulations

In a speech on Wednesday, Jon Cunliffe of the Bank of England called for tough regulations on cryptocurrencies, drawing a parallel between the $1.2 trillion subprime mortgage market in 2008…

https://dailyalts.com/wp-content/uploads/2021/10/nexon-10000-vehicle-big.jpg
Venture Capital: TPG Rise Climate And ADQ To Invest $1B In Indian Group Tatas’ EV Unit
October 15, 2021     ESG and Sustainability, News, Venture Capital

Tata Motors (NSE: TATAMOTORS), the automobile company of the Tatas, the Indian salt-to-airlines business conglomerate, will receive an investment of approximately $1 billion from TPG’s Rise Climate Fund and Abu…

https://dailyalts.com/wp-content/uploads/2021/10/BTC-Price-Chart-0427pm.jpg
Alternative Investments/Digital: Bitcoin Spikes In Anticipation Of SEC’s Clearance Of Bitcoin ETF
October 15, 2021     Alternative Investments, Digital Assets, News

Bitcoin, the leading cryptocurrency, is within handshaking distance of its April all-time high of $64,895 after spiking over the last 24 hours on rising market expectations of an imminent SEC…