Newsletter

Blueprint: Brookfield’s $8bn close for BSREP V, Starwood’s takeover bid for ESR, PGIM’s $2bn data center fund

Brookfield Asset Management reaches over $8 billion in commitments for Brookfield Strategic Real Estate Partners V, bringing the vehicle over halfway to its final target; Starwood forms a consortium of investors, including TPG-spinout credit platform Sixth Street Partners and New York investment firm SSW Partners, to propose a buyout of the Asian industrial giant ESR Group; PGIM Real Estate is targeting $2 billion for a global data center fund; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Stoneshield’s €750m Opportunity Fund III closing, a look inside today’s limited partner advisory committees, KKR’s focus on core real estate

PERE lifts the veil on the issues investors are discussing with their managers in this month’s cover story, “Inside the LPAC”; KKR is becoming more active in the core and core-plus space thanks to a lack of competition; Southern Europe-focused manager Stoneshield Capital closes its third opportunity fund ahead of target – in just five months; all in today’s briefing, exclusively for our valued subscribers.

Blueprint: Greystar’s $1.9bn Fund XI closing, KKR’s $1.6bn student housing outlay, Tishman Speyer’s continued investment in China

Greystar Equity Partners XI has closed at $1.9 billion, smaller in size than its predecessor by $100 million; Coima SGR’s latest investment in Italy’s office market is part of a bank’s strategy to downsize its real estate exposure; and Generali Real Estate’s promotion of its chief executive Alberto Agazzi to a new international position is part of growth plans in the UK, US and Asia-Pacific; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Blackstone’s latest European mega-fund; EQT Exeter’s APAC logistics fund launch; ACORE’s $1.4bn capital raise for real estate credit

Blackstone reaches mega-fund status – and eyes another fundraising record – with Blackstone Real Estate Partners Europe VII, raising $7.6 billion to date; EQT Exeter focuses its closed-end fundraising efforts on Asia-Pacific with its latest logistics offering; ACORE closes on the largest real estate debt fund so far this year at $1.4 billion; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: PIMCO’s Trausch warns of looming ‘tsunami’ of debt, AXA’s Scemama takes on the ESG critics, the ECB strikes note of calm on banks’ CRE exposure

PIMCO’s Francois Trausch warns of a funding gap if rates do not come down amid a looming tsunami of refinancing; AXA IM Alts’ Isabelle Scemama speaks out against the ESG pushback as the firm prioritizes returns amid efforts to decarbonize its global property portfolio; the ECB offers a note of calm on banks’ exposure to real estate; and more in today’s special edition briefing from the PERE Network Decarb Forum and PERE Network Europe Forum, exclusively for our valued subscribers.

Blueprint: Blackstone’s blockbuster multifamily deal, Bain’s open-air retail bet, senior capital raiser hires at GID, CBRE IM and Affinius

Blackstone is making a splash in the multifamily market by acquiring all outstanding common shares in Apartment Income REIT in a $10 billion deal for BREP X; Bain Capital Real Estate looks to re-enter open-air retail space with a new North American joint venture; GID Investment Advisers, Affinius Capital and CBRE Investment Management all hire senior capital raisers; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: PERE’s Deep Dive on multifamily distress, Blackstone’s double exit in the US and South Korea, PAG consortium’s $8.3bn acquisition of China mall operator

Multifamily distress is creating both challenges and opportunities for private real estate managers, as PERE’s April 2024 cover story examines; Blackstone has made two high-profile exits from investments in the US and South Korea, returning capital to investors in a wide range of vehicles; PAG-led consortium buys the world’s largest mall operator in $8.3 billion deal; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Executive remarks on central bank decisions, CDPQ’s new real estate chief, Starwood’s minority stake purchase in ESR, Blackstone’s UK luxury retail play

Executives weigh in on the impact of central bank decisions on real estate investing; CDPQ promotes Rana Ghorayeb, chief executive of its real estate lending arm Otéra Capital, to its new head of real estate; Starwood Capital Group acquires a minority stake in Asia logistics heavyweight ESR Group as the firm seeks to expand in the region, and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Ballon’s exit at CPP Investments, Goldman Sachs’ latest real estate secondaries capital raise, PERE’s MIPIM coverage

Another leadership shakeup at Canada’s major pension plans, with Peter Ballon leaving the top real estate post at CPP Investments after nearly two decades at the investor; PERE reports back on the mood at MIPIM; Goldman Sachs Asset Management raises $1.2 billion for Vintage Real Estate Partners III; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: PERE’s Deep Dive on sector-specific funds, Apollo’s debut European debt fund, ESR’s sale of ARA Private Funds

PERE’s March cover story zeroes in on why specialist funds are likely to have more luck attracting capital than their diversified counterparts this year; Apollo targets $1.09bn for its first European real estate debt fund in an increasingly crowded market for large property lending vehicles; ESR sells ARA Private Funds as part of its $750 million divestment plan; and more in today’s briefing, exclusively for our valued subscribers.