People | May 21, 2019 Unico appoints Lori Hill as senior vice president of investor management by Kali Persall Unico Properties, a private equity real estate investment firm and subsidiary of Unico Investment Group, has named Lori Hill as senior vice president of investor management.
People | May 21, 2019 Cerberus appoints new global head of real estate fundraising by Released Grant Berlin has joined Cerberus Capital Management as a senior managing director and global head of real estate fundraising.
People | May 21, 2019 Kerry Properties names new CEO by Released Hong Kong–listed Kerry Properties has named Kuok Khoon Hua as its new CEO and vice chairman.
Transactions | May 21, 2019 Australia’s Scentre sells stake in Sydney shopping center for $396m by Andrea Zander Australian shopping mall owner Scentre Group has sold its 50 percent stake in Westfield Burwood, located in Sydney, for A$575 million ($396 million).
Fundraising | May 21, 2019 Real I.S. launches new “Australia 10” private investment fund by Released Real I.S. AG has launched a new closed-ended private AIF.
Transactions | May 21, 2019 South Korean investor buys Vienna office for €300m by Andrea Zander Quadoro Real Estate GmbH, consultant to the GENO EuropaFonds, Wien fund, has brokered the sale of the “T-Center” in Vienna’s 3rd district to a South Korean investor consortium led by KTB Investment & Securities and KTB Asset Management.
People | May 21, 2019 CBRE Global Investors welcomes deputy portfolio manager in Americas business by Released Larissa Belova has joined CBRE Global Investors as a senior director and deputy portfolio manager for one of the firm’s core investment strategies in the Americas.
Research | May 21, 2019 Growing ‘middle market’ of older adults creates opportunity for U.S. seniors housing & care sector by Andrea Zander Fewer than half (46 percent) of America’s middle-income seniors will be able to afford the $60,000 average annual costs of seniors housing and out-of-pocket medical costs in 2029, according to National Investment Center for Seniors Housing & Care (NIC). But if the costs were cut, millions of older adults could benefit.
Investors | May 20, 2019 Warburg Pincus forms $1b Indian shopping mall platform by Andrea Zander An affiliate of global private equity firm Warburg Pincus and Mumbai-based real estate firm Runwal Group have formed a joint venture to create a retail mall platform.
Investors | May 20, 2019 CTPF approves real estate plan, allocates $50m by Kali Persall The Chicago Public School Teachers’ Pension & Retirement Fund (CTPF) approved a real estate pacing study last Thursday.
People | May 20, 2019 Reza Basharzad joins Principal Global Investors by Andrea Zander Reza Basharzad has joined Principal Global Investors as a senior director.
Investors | May 20, 2019 IMRF approves up to $150 million in real estate commitments by Kali Persall The board of trustees of the $42.7 billion Illinois Municipal Retirement Fund (IMRF) has approved up to $150 million in commitments to real estate, subject to legal due diligence.
Investors | May 20, 2019 Goldman Sachs to buy B&B Hotels from PAI Partners by Andrea Zander Goldman Sachs is in talks to buy B&B Hotels from private equity firm PAI Partners in a deal which an earlier report from the Financial Times said could be worth €1.9 billion ($2.1 billion).
Fundraising | May 20, 2019 Catalyst launches first real estate opportunity zone fund by Released Catalyst, a double bottom-line private equity firm, has launched its inaugural real estate opportunity zone fund.
Transactions | May 20, 2019 Bentall Kennedy pays $450m for Montreal office tower by Andrea Zander Working on behalf of its Prime Canadian Property Fund and Sun Life, Bentall Kennedy has acquired 1250 René-Lévesque in Montreal for an estimated price of $450 million, according to media outlets.
People | May 20, 2019 Intu promotes Sangar to CIO by Andrea Zander Intu has appointed Dushyant Sangar as its chief investment officer.
Research | May 20, 2019 STR: U.S. hotel profits hit all-time high by Released U.S. hotel industry-wide house profit reached a record-breaking $80 billion in 2018, according to results from STR’s 2019 HOST Almanac.
Investors | May 20, 2019 Indian Hotels, GIC form $600m hotel acquisition platform by Andrea Zander Indian Hotels Co., the owner of the Taj luxury hotel chain, has signed a strategic partnership with Singapore’s sovereign wealth fund GIC.
Fundraising | May 20, 2019 ESR closes Japan Logistics Fund III by Andrea Zander ESR, an Asia Pacific–focused logistics real estate platform, has announced the closing of ESR Japan Logistics Fund 3.
Investors | May 20, 2019 CBRE launches valuation and advisory services in Taiwan by Released CBRE has established its Taiwan’s valuation and advisory services business, and appointed Winston Shih as director and Jonson Lee as associate in its Taiwan’s valuation and advisory services, with immediate effect.
