Deals

Nuveen’s Asia core fund buys first Korean office

The firm has acquired three offices under the core strategy in Singapore, Sydney and Seoul since it was launched in 2018.

CPP Investments establishes first UK single-family rental JV

The £500m commitment to a joint venture with Kennedy Wilson represents the Canadian pension plan’s first foray into SFR in Europe and a chance to ‘really go at scale’ in the sector.

Legal & General acquires stake in Taurus to ramp up US real estate exposure

The deal includes a separate $200m seed investment by the UK pension investor, which cited growing institutional interest in US multifamily and logistics assets and decarbonization initiatives.

Political instability adds to market woes in Europe

During Expo Real in Munich last week, executives tempered hopes of a market recovery citing the influence of geopolitical events on capital flows and investments.

Blue Owl Capital buys IPI Partners for $1bn

IPI was founded in 2016 as a joint venture between Iconiq and Iron Point.

Ares to buy GLP Capital Partners’ non-China business in $3.7bn deal

The acquisition – which includes GCP assets in Japan, Brazil and the US – will nearly double Ares’ real estate assets under management.

German private wealth investor Pamera launches US division

The Munich-based multifamily office has hired Cord Ernst to run the North American division and struck its first deal in the region.

Azora triples down on US residential with $3bn venture

The Spanish manager has partnered with US developer Advenir to build 10,000 single-family homes and buy 5,000 existing rental units.

UK pension fund Nest sees ‘attractive’ development proposition

The investor’s £150m commitment to a BTR joint venture marks ‘quite a departure’ for its real estate strategy, says CIO Elizabeth Fernando.

Ares to buy Walton Street’s $2.1bn Mexico platform

Walton Street Mexico is focused on industrial properties in the Latin American country.