Newsline

In recent weeks, we have gained clarity on policy in the United States. On the fiscal policy front, that clarity stems from the passing of recent budget legislation. On the trade policy front, that clarity comes from our own proprietary modeling, which is already proving helpful and accurate given the slew of trade policy announcements in recent weeks. Taken together, they can help us focus on the outlook for the economy and commercial real estate market. We are a couple of weeks away from our quarterly global outlook, but for now let’s look at these two important policies and short-run implications.

Neuberger Berman, a global, private, employee-owned investment manager, announced the close of NB Strategic Co-Investment Partners V.

Lendlease has plans for a luxury residential development, after securing a site at 175 Liverpool Street in Sydney, with settlement subject to conditions precedent.

PPL Corp. and Blackstone Infrastructure have formed a joint venture to build, own and operate new gas-fired, combined-cycle generation stations to power data centers under long-term energy services agreements.

Avatar Capital Partners (ACP), an Asia-based asset management platform, has held the final close of its inaugural real estate fund, ACP Real Estate Fund I at JPY 15.2 billion ($105 million).

CBRE has made several strategic leadership appointments within its U.S. & Canada Advisory business.

Bext Space, a joint venture between Stoneweg and M&G, has launched its latest Flex Living development in Madrid, Spain.

The California Public Employees' Retirement System (CalPERS) has reported a preliminary net investment return of 11.6 percent for the 12-month period ending June 30, bringing the Public Employees’ Retirement Fund (PERF) total assets under management to approximately $556.2 billion.

Manhattan’s retail occupancy is rebounding as brands increasingly view retail spaces as destinations beyond just product sales. Visibility and presence have never been more critical. According to Jeremey Tahari, founding partner of Tahari Realty, in an interview with IREI, “Tenants are prioritizing corner spaces, high ceilings, clean sightlines. They’re not just leasing retail — they’re building cultural touchpoints.” This increased emphasis on storefront quality and location signals a broader shift in retailer behavior across the city.

AEW Capital Management has held a final closing for its AEW Partners Real Estate Fund X (PX), with total equity commitments of $1.77 billion, surpassing its predecessor, AEW Partners IX, which had a final closing in 2021.

Värde Partners has entered into a definitive agreement with CBRE Investment Management (CBRE IM) to recapitalize Värde’s ownership stake in Vía Célere, a leading Spanish residential developer.

Centurion Corp. of Singapore has unveiled additional details about its planned SGX-listed REIT, which is set to launch by acquiring 14 of the company’s purpose-built projects, valued collectively at S$1.8 billion ($1.4 billion).

The Asia Pacific region is gaining momentum as a global tech talent hub, being home to three of the world’s top 10 locations — Beijing in China, Bengaluru in India and Tokyo in Japan.

Allianz Capital Partners GmbH, which is part of Allianz Global Investors, has acquired, on behalf of the Allianz insurance companies and the Allianz European Infrastructure Fund II, a minority stake in data center platform Yondr Group.

Scandinavian property companies Pandox and Eiendomsspar have agreed to buy Ireland's largest hotel group, Dalata Hotel Group, for €1.4 billion ($1.6 billion).

BNP Paribas Real Estate Investment Management (BNP Paribas REIM), an investment management company active in the real estate market and part of the BNP Paribas Group, and QC Spa of Wonders, a company in the wellness sector that manages a chain of branded spas and hotels in Italy, France and the United States, have formed a partnership.

Vantage Data Centers has entered into the Nevada market with a 224-megawatt campus (NV1) in Storey County just outside of Reno.

ActivumSG, one of Europe’s largest independent real estate investment managers, has made a majority acquisition of Centralis, a serviced apartment real estate platform currently focused on the German market.

Tri7 Group, the specialist U.K. value-added real estate investment and asset management firm, has formally integrated into Fusion Group, one of the United Kingdom’s largest privately owned student accommodation developers and operators. 

Cushman & Wakefield’s 2025 global data center market comparison has ranked Abu Dhabi and Dubai as the top two emerging data center markets in the world.