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07/19/05: What do you call a country that has one billion people, a GDP growth rate of 8% and has attracted one-fifth of all Fortune 500 companies? You call it India.  According to Dale Anne Reiss and Rahul Rai of E&Y, foreign investment in India is expected to hit $15 billion this year, triple the 2004 figure.  Much of this is based on the country’s liberalization of guidelines allowing for direct foreign real estate investment.  Local developers in need of capital are now on the hunt for new sources as the country’s economy continues to improve after decades of stagnation.  And it seems that, despite the risks inherent in any foreign investment, it’s an intriguing play.  According to E&Y, “Investors who are among the first to enter the market have the opportunity to establish a presence and realize high returns.”  In other words, as the US real estate market continues to see prices surge with decreasing cap rates, India may be a great place to place capital.
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HYPO REAL ESTATE CAPITAL (NEW YORK; DUBLIN; MUNICH) The firm has promoted Evan F. Denner to deputy chief executive officer. Denner, who joined Hypo in February 2004 as head of real estate finance, will be responsible for all day-to-day operations for Hypo Real Estate Capital, based out of New York City.

 

NEWMARK (MIAMI) The firm has appointed senior executive vice president and director of US operations Neal B. Golden to launch its new office in Miami, which will service the greater metropolitan area as well as all of Florida. Golden, who will be managing principal of the office, has brought along managing principals Patrick M. Duffy and Bert Sanders to run the new operations there.

 

STAUBACH RETAIL (DALLAS) John Artope, Mark Newman and Mark Reeder have been promoted to senior vice president positions at the firm. Artope, who joined in 2002 as vice president, focuses on the restaurant industry. Newman focuses on the Wachovia Corp.’s area retail branch expansions; Reeder will work on strategic planning and services both locally and nationally.

 

RICHARDS BARRY JOYCE & PARTNERS (BOSTON) The company has tapped Thomas Ashe, Ron Friedman and Jamey Lipscomb as vice presidents. Ashe, at the firm since 2001, works on downtown properties; Friedman, who also joined in 2001, specializes in the Route 128 submarket; and Lipscomb, who came on board in 2003, works on the Route 495 submarket.

GRUBB & ELLIS (BOSTON) Lance Carlton has joined the firm’s locally based team as senior advisor. Carlton, who was most recently a commercial broker at Equis Corp. in Boston, will focus on suburban office and industrial properties.

H.G. FENTON (SAN DIEGO) New to the company is Kari Prevost, who has been appointed general counsel. Prevost will provide legal services for the company’s commercial and residential portfolios. She was most recently senior counsel at Allen Matkins Leck Gamble & Mallory.

CAPSTONE ADVISORS (SAN DIEGO) The firm has tapped Arnaud Sauvage as director in its residential equity group. Sauvage oversees equity and mezzanine investments in land development, entitlement and home-building ventures. He has left his prior position as land acquisition manager at KB Home.

INTRACORP (SAN FRANCISCO) David Herron has been named vice president of finance. Herron, who was previously founder and managing principal at Walnut Street Partners, will source and manage capital partner and lender relationships for local projects.

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