Newsline

Inland Private Capital Corporation (IPC) and University Partners, an owner and operator of student housing across the United States, have formed a strategic relationship focused on managing and operating off campus purpose-built student housing opportunities located at leading, top-tier universities throughout the United States.

PGIM Real Estate has launched its first Australian real estate debt strategy.

Keppel DC REIT Management Pte. Ltd, as manager of Keppel DC REIT, and Keppel Ltd. (Keppel) have entered into an agreement to acquire a 100 percent interest in a shell and core data center located in Tokyo, Japan for JPY 23.4 billion ($149 million).

A joint venture between AXA IM Alts and Cabot Properties has completed a 114-kilowatt rooftop solar array on a 261,000-square-foot industrial property in Fontana, Calif. 

TE Capital Partners and LaSalle Investment Management has announced the sales launch of Visioncrest Orchard.

CapitaLand Investment Ltd. (CLI), a Singaporean real estate investment and management firm, has raised RMB1 billion (approximately $138 million) from the second tranche of its inaugural sustainability-linked panda bond from institutional investors, bringing the total amount raised to RMB 2 billion (approximately $275 million). 

Hearthstone Investments, a fund manager specializing in affordable private rented housing in the United Kingdom, has appointed Antonia Haralambous as strategy and research manager.

The New York State Common Retirement Fund (NYSCRF) has committed €320 million ($348.8 million) to Ares European Property Enhancement Fund IV (EPEP IV) and €100 million ($109 million) to the Ares European Property Enhancement Fund IV Co-Investment, as well as €300 million ($327 million) to Copenhagen Infrastructure V and €300 million ($327 million) to Copenhagen Infrastructure Co-Investment and $300 million to Stonepeak Infrastructure Fund V.

BF.capital GmbH, an investment house for institutional investors in the private debt segment, has started its fundraising drive for another real estate debt fund.

Caro Investors Management, a new investment management company founded by Careina Williams, has launched and announced a new strategic partnership with TPG.

KKR has completed the acquisition of Park 8Ninety, a 12-building industrial logistics park in Houston, from Artis REIT for $234 million.

Legal & General has launched the L&G Affordable Housing Fund, alongside a £125 million ($162 million) commitment from Local Government Pension Scheme (LGPS) ACCESS — a collaboration of Central, Eastern and Southern Shires, composed of 11 LGPS Administering Authorities with assets totaling £40 billion ($52 billion). The vehicle is aiming to deliver a diversified inflation-linked cash flow for investors.

Aviva Investors has agreed to forward-fund the creation of 101 single-family homes in Cambridge, U.K., continuing its development partnership with Packaged Living, the United Kingdom’s leading sustainable living specialist.

Itercon, a specialist design and construction company has completed the construction of two logistics centers in Madrid and Toledo for CBRE Investment Management.

Patron Capital and Investire SGR S.p.A, an asset and investment management company in Italian residential property and part of the Banca Finnat Group, have established Rome Resi 1, a real estate investment fund (FIA) targeting residential development opportunities in Rome. 

Affinius Capital announced the closing of a $112.7 million loan to refinance Alexander Crossing, a newly delivered 440-unit multifamily building in downtown Yonkers, N.Y.

Ichigo has plans to acquire all shares of Tosho Tokai REIT Investment Corp. and its asset management company, Tosho Asset Management.

Overall, the industrial vacancy rate rose another 40 basis points in the second quarter, pushing the vacancy rate to 6.1 percent, marking the first time the rate has exceeded 6 percent in the past nine years, according to the latest data by Cushman & Wakefield.

Neuberger Berman, a private, independent, employee-owned investment manager, has further strengthened its institutional client relationship capability by naming Fekko Ebbens as head of institutional business for EMEA, a newly created role.

President Biden has announced his intention to nominate Deva A. Kyle as the director of the Pension Benefit Guaranty Corporation (PBGC).