Newsline

Urban Partners, through Nordic Strategies Fund V, has entered a joint venture with Genova Property Group relating to the first phase of the Viby urban development project in Upplands-Bro, north of Stockholm.

In an exclusive Q&A with IREI, Pong discussed the deal with Apollo and Realty Income Corp.’s broader push into private capital. “We are the first REIT to execute this type of structure,” he said. “This is a key part of our broader private capital strategy, which is now multi-pronged, and reflects a lot of work we have been doing behind the scenes.”

A slowdown in construction is intersecting with the early stages of recovery in the U.S. commercial real estate cycle, creating a more fundamentals-driven environment for investors. Rich Hill, senior managing director and global head of research and strategy at Principal Real Estate, said in an interview with IREI, development activity has declined across property types, particularly in multifamily and industrial, as higher labor, material and financing costs have constrained new supply. At the same time, the market is shifting away from the post-global financial crisis playbook, where accommodative policy and cap-rate compression supported returns. In today’s higher-for-longer rate environment, performance is expected to rely more heavily on net operating income growth and active asset management.

EQT Real Estate Industrial Core-Plus Fund II has completed the sale of a 36-property, 7.3 million-square-foot portfolio of institutional-grade logistics assets located across the United States.

Equus Capital Partners has completed the acquisition of Greylyn Business Park for $102 million.

Bonaccord Capital Partners has acquired a minority interest in Prime Finance.

The current macro environment should be viewed not as a traditional economic shock, but as a delay mechanism that pushes out the timeline for normalization, according to Ryan Severino, chief economist at BGO, in his recent report.

Laura Dunn has joined CBRE Investment Management (CBRE IM) as head of the commercial operator division for Americas direct real estate.

Current CIO of the State of Hawaii Employees’ Retirement System (ERS), Kristen Varela, has been selected to serve as CIO of the $71 billion New Mexico State Investment Council (SIC). She will succeed Vince Smith as CIO.

LaSalle Investment Management, the global investment management business of JLL, has announced that it has raised the first $370 million of capital, inclusive of sidecar commitments currently in closing, for its new global decarbonization fund, the LaSalle Property Planet Protection Fund (Lp3F).

The Fed has been hanging its hat on “data” for far too long. The data it uses is compiled in arrears and is sometimes months old. The Fed rarely looks ahead. Given the historically unique times we are experiencing today, can the Fed evolve, embrace this new landscape, and begin to act proactively? Or will it be left behind as an economic revolution unfolds?

NIC MAP has announced the integration of active adult performance data across its platform, expanding the market intelligence available to investors, developers and operators evaluating this growing segment of the senior housing landscape.

The office sector in the London submarket of Southbank East has shifted back into positive absorption after two consecutive years of net demand losses, according to CoStar.

MAPP has secured an expanded mandate with Barings to manage a portfolio of class A logistics assets and landmark offices in the United Kingdom.

AEW has published its latest European research report, “European residential expected to remain resilient if prolonged Middle East conflict triggers downside scenario.”

The U.S. cold storage sector is undergoing a cyclical reset as a recent wave of new development collides with softer food inventories and more cautious consumer spending, according to Newmark.

Harbert Management Corporation (HMC) has sold a portfolio of five seniors housing properties across four states.

Jennifer Diaz, vice president, client services and operations at PCCP, recently participated in a special feature highlighting accomplished women in the real estate sector for Institutional Real Estate Americas. She shared her perspectives on leadership, investing and career evolution. While an excerpt of that interview appeared in the print magazine, the entire conversation, lightly edited, appears below.

In a sponsored interview published in the April issue of Institutional Real Estate Americas, PCCP's Bryan Thornton, managing partner, and Jim Galovan, partner, discuss the enduring importance of credibility and durable relationships, and how even in today's growth-minded, quickly-evolving technological investment landscape, understanding that is key to success.

In a sponsored interview published in the April issue of Institutional Real Estate Americas, Kayne Anderson's Lee Levy, senior managing director, investments, real estate, discusses how loan structures, underwriting standards and sponsor expectations have evolved in recent years, and explains how focusing on relative value across public and private markets allows Kayne Anderson to make the right investment decisions regardless of the state of the market.