Newsletter

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.

Blueprint: GPIF’s first real estate fund investment, BentallGreenOak’s industrial REIT IPO, GI Partners’ hedge to office

Japan’s GPIF taps Blackstone for first direct real estate fund investment after previously investing in fund of funds, BentallGreenOak launches $5 billion REIT to capture retail capital for industrial real estate investments, GI Partners’ founder sees data centers as a natural hedge to office; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: EQT Exeter’s $4.9bn fundraise, DFI and Argo’s industrial JV, Generali’s splash acquisition of Pearlmark’s parent

EQT Exeter is eyeing distress for its largest industrial fund to date; DFI and Argo form a joint venture to enter UK industrial; Pearlmark expected to benefit from Generali’s acquisition of parent company from Cathay Life; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: PERE’s 100 and 200 manager rankings released, the role of debt in pricing SL Green’s half-share sale of 245 Park, Gaw raises $3bn fund

PERE’s 100 and 200 manager rankings demonstrate New York’s grip on private real estate fundraising is loosening; attractive debt explains the pricing of SL Green’s 49.9 percent stake sale of a Class A New York office; Gaw Capital raises $3bn, deploying; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Bain gets back on the fundraising trail, Prologis’s big industrial buy from Blackstone, GCP’s $3.2bn fundraise

Bain Capital re-enters the market with its third real estate fund, Prologis buys $3.1 billion of industrial property from Blackstone on its balance sheet, GCP crosses the $3 billion threshold in its open-ended Japan fund; and more in today’s briefing, exclusively for our valued subscribers.