Regions

At a size of $1.4bn, ACORE Credit Partners II is also the joint fourth-largest private real estate fund closed globally so far this year.

The vehicle represents the firm’s only real estate fund launch in the near term as it sits on $12bn of dry powder for the asset class.

The New York-based mega-manager is now approaching its target for the vehicle, bolstered by a pickup in European real estate opportunities.

In PERE’s latest podcast episode, PIMCO’s CEO and CIO of real estate discusses how his firm will not touch new assets if they do not meet the CRREM pathway.

Industry practitioners anticipate embodied carbon will become a greater focus for prospective buyers in the future.

While most managers opt either to hire star talent to build a new business or acquire an existing platform, the New York-based firm chose to do both.

Lagging performance indicators in private real estate is an existential problem for the sector, making alpha betting challenging for investors, argues James Corl, head of private real estate, Cohen & Steers.

NorthBridge’s NB Partners Fund IV surpassed its target of $800m, and capital has been deployed to acquire 20 assets so far.

Proprium has exited its 35% stake in the European hotel business to its co-owner, 17 years after making its original investment.

In this podcast, Fitch Ratings’ Brian Thies and Christopher Wolfe discuss the asset class’s increasing refinancing challenges following several years of massive growth.