North America

Lee Levy, senior managing director and head of debt, most recently was Goldman Sachs’ co-head of US real estate credit investing.

The Miami-based firm is expected to complete a rolling first close for the opportunistic vehicle later this year.

The fund has seeded a just-launched private debt strategy from an industry veteran.

The manager bought two luxury high-rise apartments for $222m all cash.

The pension fund committed $1bn to overseas direct real estate funds within six months last year.

Very different outcomes in France and the UK underscore the risks of political instability for an already-struggling industry.

The US has seen the most improvement, reaching a record 3.2 percent average revenue per available room growth last year.

The US has seen a wave of casino openings, with more in the pipeline, while several Asian locations build integrated resorts.

The growth of leisure travel is fueling the rebound of the global hospitality sector across all segments.

Hurricane Beryl is said to be the earliest category 5 Atlantic hurricane on record, adding momentum to concerns about already rising insurance costs for institutional landlords and their investors.