Deals

Wall Street high-rise swaps trading desks for lofty living

20 Exchange Place in New York this year secured a $30m equity infusion from UBS to modernize the tower.

Starwood’s Sternlicht on ESR privatization: ‘Our goal here is to clean it up’

Starwood Capital’s chairman and CEO anticipates the transaction will ‘create very high returns’ for the mega-manager’s Fund XII.

ADIA to invest up to $1.5bn in GLP’s Greater China business

The Emirati wealth fund is taking an initial $500m stake in GLP months after the data center and logistics manager sold its international business to Ares.

‘It’s an alpha trade’: Private equity comes for logistics REITs

The PERE Podcast breaks down Blackstone’s pursuit of Warehouse REIT amid a string of industrial focused take-privates.

Texas TRS forms $260m Swedish logistics venture

The public pension committed an initial $100m to launch the venture with Stockholm-based manager Brunswick Real Estate.

The UK PBSA sector’s challenges have been greatly exaggerated

Not only do the country’s top-ranking institutions remain financially healthy, but the sector will also benefit from new demand drivers, writes Jessica Hardman, CEO at Aboria Capital.

Sixth Street proposes $1bn take-private of Plymouth Industrial REIT

The San Francisco-based manager has made a nonbinding offer for the Boston-based listed company and its 32 million-square-foot US warehouse portfolio.

Rising manager stake sales reflect greater fundraising confidence

A Hodes Weill report finds a surge in deals for non-controlling interests as buyers underwrite AUM growth for real estate managers.

S2 enters industrial market with purchase of Fort Capital 

The Dallas-based multifamily specialist hopes to scale its logistics holdings to rival its residential portfolio.

Trades of the decade: The art of the $20bn deal

Bigger firms, bigger deals and the ubiquity of data characterized the evolution of dealmaking in private real estate over the past decade.