It's a sure sign of a red-hot market when private equity firms begin to invest in size. That is what is happening in real estate.
It began in March when a consortium of high profile firms, including Kohlberg Kravis Roberts and Bain Capital, paid $8.2 billion for retailer Toys 'R' Us. They didn't commit over $1 billion of equity and over $5 billion of debt to profit from fads in children's merchandising. What these...
