Newsletter

Blueprint: GIC’s real estate leadership changes, MSREI’s fund extension for G10, Brookfield’s first close for BSREP V

GIC’s real estate chief investment officer Lee Kok Sun retires after 27 years at the Singaporean sovereign wealth fund; Morgan Stanley Real Estate Investing receives a one-year extension on the investment period for its tenth global real estate fund; Brookfield raises $8 billion in the initial close for BSREP V; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Geopolitical impacts on private real estate, US and UK interest rate policy sentiment threatens to diverge, annual private real estate fundraising at lowest level in more than a decade

PERE’s February Deep Dive highlights the ripple effects of geopolitics on private real estate investment activity globally; interest rates policy thinking is showing signs of divergence in the sector; fundraising totals for private real estate are the worst in more than a decade, just two years after hitting a peak in 2021; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: CDPQ’s Ivanhoé Cambridge integration leads to big departure, Blackstone’s BREIT sees drop in redemptions, fundraises hit and miss targets

Canadian investor CDPQ will lose CEO Nathalie Palladitcheff after integrating its real estate business, Ivanhoé Cambridge; Blackstone points to brighter times ahead for BREIT as redemption requests from the giant private real estate investment trust fall dramatically; Cabot hits its fundraising target while Rockpoint misses its goal despite a strong first closing; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Pike’s debut fund launch, Goldman’s ongoing real estate sell-downs, Actis’s Asia real estate expansion

Former Blackstone real estate boss Chad Pike launches a debut special situations fund for his new firm Makarora; Goldman readies another year of commercial real estate sell-downs after reducing its property holdings by more than $6 billion last year; Actis gears up for an Asia real estate expansion following the firm’s acquisition by General Atlantic; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Senior leadership changes at Blackstone, BlackRock and UBS; Goldman Sachs’ and Phoenix Property Partners’ latest fundraises; Savills’ US debt expansion

Global leadership changes dominate the private real estate sector headlines with promotions at Blackstone and UBS featuring as well as a departure at BlackRock; Goldman Sachs and Phoenix Property Investors make notable fundraising headway; Savills’ debt business breaks into the US; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Apollo’s Asia real estate equity wind-down, Partners’ big retail bet in Europe, the best of our Look Ahead 2024 coverage

Apollo Global Management prepares to wind down its Asia real estate equity business following the departure of partner Ian Cohen; Partners Group invests in a fund to buy 10 retail parks across Belgium and Portugal from Mitiska REIM; the biggest takeaways from our Look Ahead series featuring top executives from Blackstone, Hines and Morgan Stanley Real Estate Investing; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Ex-Blackstone real estate boss Chad Pike returns; Aermont sees cultural fit with acquirer Keppel; rising insurance costs

Ex-Blackstone real estate boss Chad Pike has returned to the market via the launch of a manager focused on the current capital dislocation in the sector; European opportunity fund manager Aermont’s tie-up with Singaporean conglomerate Keppel Corporation is steeped in operational real estate common ground; rising insurance costs are having an increasingly heavy impact on US real estate net income and more besides in today’s briefing, exclusively for our valued subscribers.

Blueprint: ECB repeats concerns about commercial real estate’s impact on banks, London office market produces more negative headlines, Coima brings aboard GIC for ‘brown-to-green’ strategy

With the US celebrating Thanksgiving, PERE’s attention has been dominated by events in Europe, with the European Central Bank repeating concerns over the indebtedness of the commercial real estate sector; the office malaise in London leading to further headlines about building loan sales at a discount; important tenants undertaking strategic reviews about reducing their workplace footprints; and more besides in today’s briefing, exclusively for our valued subscribers.

Blueprint: Brookfield shelves Center Parcs sale, NBIM’s first real estate outlay in 2023, APG and Bouwinvest combine for affordable housing

Brookfield shelves plans to offload Center Parcs, with Europe’s hospitality investment market notably inactive; Norges Bank Investment Management’s $746 million life science investment in Boston is the first for the state investor in 2023; Dutch investors APG and Bouwinvest combine to solve for their country’s affordable housing challenge; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: PERE America Forum lands in New York, Starwood’s Fund XIII launch, Proptech 20 ranking unveiled

PERE hosts its annual America Forum with two days of in-depth discussions in New York, Starwood joins a tight mega-fund race with the launch of Fund XIII, which has a big focus on data centers, this year’s Proptech 20 shows a slowdown in capital raising growth, we make a final call for PERE Awards submissions and more in today’s briefing, exclusively for our valued subscribers.