Newsletter

Blueprint: APG’s early movement in AI, ADIA takes advantage of current China opportunity, PERE’s Expo Real takeaways

PERE meets Samuel, APG’s digital colleague, and hears about the investor’s early moves in artificial intelligence; the Abu Dhabi Investment Authority reveals its opportunistic activity in its annual report; Expo Real conference delegates hear a notable shift in emphasis in regard to sustainability; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Industry reacts to interest rate pauses; Harrison Street hits $2bn for latest opportunity fund

Private real estate executives digest a widespread pause in interest rate hikes by central banks; Harrison Street joins a limited cohort of fundraising winners this year; Heitman calls out insurance costs as a major industry threat; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Blackstone’s $1trn credit ambition, PERE Japan Korea Week begins, Alecta’s investigation by financial regulator

Blackstone’s real estate credit platform secures massive CalPERS commitment as the mega-manager sets $1 trillion AUM goal for debt businesses; PERE Japan Korea Week kicks off in Seoul; Alecta comes under scrutiny by Sweden’s financial regulator for its largest real estate investment; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: CalSTRS’ and PGIM’s leadership changes, PEI’s Investor Perspectives survey opens, DWS calls for China’s property market to find balance

CalSTRS and PGIM name new heads of their real estate businesses following the ascension of Mike DiRe and Eric Adler to bigger roles, respectively; PEI’s Investor Perspectives 2024 survey opens; DWS’s Jesch calls for balance in a Chinese property market likely to be of decreasing significance to the country’s economy; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Private real estate’s bad press, Bain’s latest Greek distress deal, KIA’s new global real estate head

Private real estate’s top managers and investors grapple with the repercussions from negative press coverage of the sector; Bain Capital makes another big NPL purchase in Greece; Kuwait Investment Authority appoints a longtime executive as its new global real estate head; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Blackstone’s Bellagio stake offload, PERE introduces Trend Watch, Newmark demonstrates lender pool shrinking

Blackstone’s partial exit from Las Vegas’s Bellagio exemplifies the firm’s keenness for a focus on the profitable exits from its BREIT; Newmark shows how lending sources are drying up; PERE introduces Trend Watch for print and online publications, and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: China Evergrande’s US bankruptcy filing, Fortress’s $1bn office loan portfolio deal, PERE introduces fund performance features

China Evergrande’s Chapter 15 bankruptcy filing creates further turmoil for China’s ailing economy, Fortress makes a contrarian bet on New York City office with a $1 billion loan portfolio purchase, PERE introduces benchmarking tools for fund performance, and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: WeWork’s 12-month survival plan, leadership retirements at AEW and Savills IM, Brookfield’s Flatt predicts top vintage opportunity fund

WeWork plots a mass reduction in office occupation as part of plans to save itself in another headwind for institutional office landlords; AEW and Savills Investment Management see senior shuffles as Jeff Furber and Kiran Patel prepare for retirement; Brookfield boss Bruce Flatt predicts a repeat of the firm’s famous post-GFC Turnaround Consortium performance; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Carlyle CEO’s optimism on real estate, the impact of the US credit downgrade, EQT Exeter’s non-traded REIT IPO, KKR’s Los Angeles office opening

Carlyle chief executive Harvey Schwartz shows optimism for the firm’s fundraising and investment prospects in real estate; the US’s second credit downgrade raises questions about longer-term investor allocations to the country; EQT Exeter launches a $5 billion non-traded REIT to primarily focus on real estate assets with business tenants; KKR installs real estate executives in Los Angeles; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: US authorities propose stricter lending limits on banks, GIC hits allocation ceiling, CalSTRS outperforms its benchmark with negative returns

Stricter capital reserve requirements for US banks have become reality, stoking fears among commercial real estate borrowers of less available debt; Singapore state investment fund GIC hits real estate allocation limits after last year’s buying spree; CalSTRS posts negative real estate performance that still beats its benchmark and more in today’s briefing, exclusively for our valued subscribers.