PSERS commits $125m to Sterling United Properties I

by Elise Mackanych

The Pennsylvania Public School Employees’ Retirement System (PSERS) has committed $125 million to Sterling United Properties I CF, a closed-end, core-plus strategy of Sterling Organization.

Argosy’s David Butler and Andy Stewart on scaling alternative property sectors

by Beth Mattson-Teig

As institutional capital moves deeper into smaller, more specialized and operationally intensive property sectors, the definition of what qualifies as “institutional” is changing. Asset size alone is becoming less important than the ability to execute a repeatable strategy, build scale across a portfolio and support investments with strong operating capabilities, governance and reporting.

M&G makes its first investment in Australia’s build-to-rent sector

by Released

M&G Real Estate has expanded its Asia Living Property strategy with the acquisition of Bowen Crescent, a newly completed build-to-rent development in Melbourne, Australia, for A$158 million ($111 million).

Rithm sees operating expertise attracting institutional capital to New York office

by Andrea Zander

Institutional capital is selectively targeting New York office assets with strong leasing fundamentals and income potential. Rithm Capital Corp. recently closed a joint venture with a fund managed by DRA Advisors LLC for the ownership of 1301 Avenue of the Americas, one of the flagship properties in the New York City office portfolio of Elecor Properties, Rithm’s real estate operating platform. Rithm, through Elecor, will retain majority ownership of the property and continue operating the building on behalf of the joint venture.