New York City office REIT Paramount Group’s historic US$2.3bn IPO last week proved once again that success in real estate boils down to owning prime locations. By embracing the old real estate adage of location, location, location, Paramount received a boost from sovereign wealth funds that were interested in funding investments in Tier 1 property assets in the US. The deal is the largest ever US REIT IPO.
The creation of new regulatory pathways under Obamacare for bringing generic formulations of complex biologic drugs to market represents a potential multibillion dollar opportunity. But re-creating biosimilar proxies of complex protein-based drugs is not as easy as it sounds.
Blackstone Group-backed Vivint Solar crossed into the public market last week, collecting US$330m in its IPO.