Latest news with #Barings
Business Journals
6 days ago
- Business
- Business Journals
JPMorgan subsidiary buys Midtown Manhattan apartment high-rise for $244M
Story Highlights JPMorgan subsidiary acquires Riverbank tower for $243.5 million. Barings sold 44-story apartment building after 30-year ownership. Property features 418 units and 18,000 square feet of retail space. A JPMorgan Chase & Co. subsidiary has paid nearly $244 million to acquire the Riverbank apartment high-rise in Midtown West. Real estate investment manager Barings sold the recently renovated 44-story building at 560 W. 43rd St. to J.P. Morgan Investment Management Inc. for $243.5 million, according to New York City property records made available Friday. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events 'Barings has been proud to provide Class A housing to New Yorkers over the last 30 years at this property and to deliver meaningful value to our investors through this transaction," said Mark Freeman, managing director at Barings, in a statement. Affiliates of Barings' parent company, Massachusetts Mutual Life Insurance Co., had owned the site near Hell's Kitchen since 1991, records show. Initially built in the 1980s, amenities at the 418-unit property now include a swimming pool, gym, sauna, outdoor terrace, grilling stations, residential lounge, media room and coworking space. The building also has 18,000 square feet of retail space, which is fully occupied by a nail salon, liquor store and coffee shop, as well as below-grade parking garage. JLL's Jeffrey Julien, Rob Hinckley, Andrew Scandalios, Steven Rutman and Devon Warren represented Barings in the sale of the property. The firm's Kelly Gaines, Geoff Goldstein and Michael Shmuely also arranged $128 million in acquisition financing with Freddie Mac on behalf of JPMorgan. JLL took note of the site's proximity to Hudson Yards, the city's most expensive office submarket by more than $26 per square foot, according to Avison Young. "The location puts the building's primarily young and well-educated residents right next to one of the city's most vibrant business hubs," JLL said in the statement. JPMorgan Investment Management Inc. declined to comment on the acquisition. Sign up for the Business Journal's free daily newsletter to receive the latest business news impacting New York.
Telegraph
17-07-2025
- Politics
- Telegraph
WhatsApp message urges Afghans to sue Britain
Afghans have been encouraged to sue the British Government over the 'kill list' data breach in a WhatsApp message urging them to contact UK law firms. The message gave details of how to lodge a legal complaint through Barings, a Manchester-based law firm that specialises in privacy and data breach cases. It provided the web address for a portal for Barings where Afghans can complete a compensation claim form, and was widely circulated among Afghans living not only in Afghanistan but also Pakistan and the UK. Barings has 1,000 Afghan clients suing the Government over the data breach and is adding 100 claims a day following the lifting of the super-injunction covering the case on Tuesday. Up until Tuesday, the law firm - like the media - was prevented from highlighting the data breach or the existence of the injunction. Barings said it first became aware of the data leak in March after being contacted by an Afghan who found the company in an online search for firms specialising in such cases. In the space of a few weeks, 650 Afghans had instructed Barings to act on their behalf. However, Adnan Malik, the lawyer heading up the group action, said: 'We didn't send any WhatsApp messages.' He said that all Barings correspondence with clients was by email and he had never seen the spreadsheet containing the records of 25,000 Afghans who had applied for asylum in the UK, which was accidentally leaked in February 2022 . The Ministry of Defence was first made aware of the data breach 18 months later in August 2023 when a case worker warned officials of the circulation of a 'kill list'. Mr Malik informed the Government Legal Department in April that his firm was acting for Afghans over the data breach. On April 15, the Government slapped a superinjunction on him preventing him from discussing the case. '100 new cases a day' Mr Malik said: 'We had about 800 cases before the injunction was lifted and now we have 1,000. We are getting 100 a day coming in. No doubt the Government wanted the injunction because this is going to cost the Government a lot of money.' Each claim is worth a 'five-figure sum', according to Barings. With 25,000 names on the list – and extended families also put in danger of reprisals by the Taliban – the final legal bill could exceed a quarter of a billion pounds. The data breach alone could be worth up to £10,000 per claimant with much bigger compensation for any resulting risk to life. Under the terms of the conditional fee agreement clients must sign, Barings receive their fees and expenses – capped at 25 per cent – of any successful claim. The Government, which has already spent billions flying people endangered by the leak out of Afghanistan, has said it will fight the compensation case, although the MoD declined to say on what grounds. On its website, Barings states: 'Barings Law are helping Afghan nationals who assisted British Forces seek justice after the Ministry of Defence exposed their identities, placing them at risk of serious harm. The MoD has tried to suppress the data breach for nearly three years by taking out a super-injunction.' Separately, a former Afghan soldier who fled to Iran because his name appeared on the leaked spreadsheet, said he had been added to a WhatsApp group that included British phone numbers allegedly belonging to three lawyers based in London. There is no evidence the lawyers were genuine or worked for reputable firms in the UK. The man, who worked alongside the British military in Afghanistan, said: 'I was added to a WhatsApp group with three other British numbers. They said they were lawyers in London and could help me get money from the UK Government. 'They said they would help me get thousands of pounds from their Government and asked me to send them my banking details and sign a letter to confirm they are my lawyers.' The individuals, who used random characters instead of real names in their biographical details, told him they would bring him to Britain and that he should pay them 30 per cent after receiving compensation from the government. 'I thought it was a scam and told my British contacts about it,' he said. When the Afghan man asked how they found him, the purported lawyers said 'that's not important,' he added.
Yahoo
30-06-2025
- Business
- Yahoo
Barings Provides $136 Million Financing on Two Industrial Projects for Outrigger Industrial in Atlanta, GA and Houston, TX
CHARLOTTE, N.C., June 30, 2025--(BUSINESS WIRE)--Barings, one of the world's largest diversified real estate investment managers, announced today that it has provided a $96.96 million loan for Generation Park I & II in Houston, Texas and a $39.5 million loan for Falcon II in Oakwood (Atlanta), Georgia to refinance these newly built industrial properties. Owned by Centris Industrial, Inc. and externally managed by Outrigger Industrial ("Outrigger"), these projects recently completed and are in various stages of lease up. "We're excited to provide these financings for Outrigger and look forward to deepening our partnership with Outrigger's management team, expanding on their decades of success in the development and operation of industrial and logistics assets," said Tom Cross, Managing Director for Barings. "Both Houston and Atlanta are dynamic markets with new supply being curtailed and absorbed." The properties were built to modern specifications in strong distribution and logistics markets to accommodate a wide range of tenants. Generation Park I & II consists of two buildings totaling 1.28 million SF and Falcon II consists of three buildings totaling 496,195 SF. Steve Roth and Bill Jurjovec of CBRE advised the sponsorship on the financing. This transaction expands Barings' 23.79+ billion* real estate debt platform, which leverages the team's broad direct origination capabilities and deep credit expertise to invest in loans secured by institutional-quality commercial real estate. About BaringsBarings is a $442+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions. *As of March 31, 2025 About Outrigger Industrial, LLC:Outrigger Industrial, LLC is a joint venture partnership between co-owners and managing members of PTLR, LLC (Podboy, Trinkle, Lu, and Rowley) and co-owners and investment firms Davidson Kempner Capital Management and Monarch Alternative Capital. Outrigger Industrial is strategically designed to invest in and develop industrial opportunities including ground-up development and value-add projects across the United States. The company is focused on infill and other high barriers to entry submarkets in major cities which exhibit strong macroeconomic and real estate fundamentals. Outrigger Industrial has offices in Chicago, Los Angeles, Houston, Atlanta, Philadelphia, and Columbus. For more information, please visit About Centris Industrial:Centris Industrial ("Centris") is an externally managed private real estate investment trust (REIT), comprised of investment funds advised by Davidson Kempner Capital Management LP ("Davidson Kempner"), Monarch Alternative Capital LP ("Monarch") and Long Pond Capital LP ("Long Pond"). The REIT was created to strategically invest in ground-up industrial and logistics projects across the United States. For more information, please visit About CBRECBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at View source version on Contacts MediaRelations@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
27-06-2025
- Business
- Bloomberg
Barings Is Seeing More Credit Investor Interest in Europe Amid US Policy Mayhem
Demand for European corporate debt is rising as global investors seek to diversify out of US markets, according to Barings, the $442 billion asset manager. 'US exceptionalism is a little bit more questioned, investors are increasingly concerned about US economic policy,' Mike Best, a high-yield and senior loan portfolio manager at the firm, tells Bloomberg News' James Crombie and Bloomberg Intelligence's Stephen Flynn in the latest Credit Edge podcast. 'That will probably in the near term, create a very strong technical demand for European assets,' says Best, who's taking more calls from investors seeking exposure to non-US markets. Best and Flynn also discuss risks and constraints in European credit, retail distress, communication-sector winners and losers, plus how to trade liability-management exercises.
Bloomberg
26-06-2025
- Business
- Bloomberg
Barings Sees Global Credit Investor Pivot to Europe
Demand for European corporate debt is rising as global investors seek to diversify out of US markets, according to Barings, the $442 billion asset manager. 'US exceptionalism is a little bit more questioned, investors are increasingly concerned about US economic policy,' Mike Best, a high-yield and senior loan portfolio manager at the firm, tells Bloomberg News' James Crombie and Bloomberg Intelligence's Stephen Flynn in the latest Credit Edge podcast. 'That will probably in the near term, create a very strong technical demand for European assets,' says Best, who's taking more calls from investors seeking exposure to non-US markets. Best and Flynn also discuss risks and constraints in European credit, retail distress, communication sector winners and loser, plus how to trade liability-management exercises. Listen to this episode on Apple Podcasts and Spotify. Apple: Spotify:
