Value-Add

The pandemic has opened investors’ eyes to how technology can drive performance across residential portfolios, argue Yardi Systems’ Richard Malpica and Michael Tuer.

GLP China’s Teresa Zhuge discusses prospects for this growing asset class and how GLP is positioned to build and scale a high-quality business in the new economy

The Boston-based firm had launched its third value-add vehicle right at the onset of the pandemic in March 2020.

Majority-owner Sun Life has decided the manager will focus on its bigger Infrastructure business. To that end, InfraRed’s European real estate platform is expected to be sold, while its Asia platform will be merged with Sun Life’s main private real estate business, Bentall GreenOak.

The firm acquired a five-star hotel in Sydney from Chinese developer Greenland last month for around 30% below replacement value.

The New York asset management giant’s latest Asia property fund attracted $1.175bn in equity commitments, beating its original $1bn fundraising target. The raise is the first in the series to beat its target since 2008.

The real estate investment manager raised initial equity from long-term investors PGGM, Allianz Real Estate and Crédit Agricole Assurances.

Waterton Residential Property Venture XIV will have a value-add strategy, targeting multifamily rental investments in diverse markets across the US.

The firm aims to increase its allocation to the region to 40 percent of its overall property portfolio, level with its US exposure.

The executive sees investment opportunities in the sector’s outdated properties as the firm seeks to expand in real estate with new parent company EQT.