Newsletter

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.

Blueprint: Central banks diverge, QIA’s hospitality buy from Egypt heralds brighter relationship, Starwood’s single-family SREIT sale sees assets back with prior owners

Central banks diverge paths for the first time in months as inflation and high rates persist; QIA’s projected minority stake in a hospitality portfolio of Egypt’s sovereign wealth fund has greater ramifications; Starwood plans 2,000 unit portfolio sale, including in part to previous seller Pretium; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Brookfield’s understated target, Blackstone’s profitable BREIT hotel sale, GIC aims to add Indian assets to its shed collection

Brookfield’s $15 billion target for its latest opportunity fund is characterized as deliberately understated; Blackstone books a $275 million profit from its sale of a San Antonio hotel out of its BREIT portfolio; GIC continues to target stockpiling industrial assets, this time in India; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Lone Star boss considers distress investing today, real estate reacts to the US debt ceiling agreement, what ESR’s Korea vehicle launch means

Lone Star’s Grayken sees opportunities while the market finds its footing; a US debt ceiling deal relieves pressure on real estate but does not remove its obstacles, for now; ESR prepares a South Korea vehicle to capitalize on refinancing problems in the country; and more in today’s briefing, exclusively for our valued subscribers.