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.
Investors | May 20, 2019 NYSCRF earns 7.1% on real estate investments by Kali Persall The $210.2 billion New York State Common Retirement Fund (NYSCRF) has earned a 7.09 percent return on its real estate investments, for the state fiscal year ending March 31.
Transactions | May 20, 2019 Ashford Hospitality Trust completes refinancing of two-hotel portfolio by Released Ashford Hospitality Trust has refinanced a mortgage secured by the Westin Princeton and Renaissance Nashville.
Transactions | May 20, 2019 Westbrook Partners, Korea Investment Corp. in talks to sell Manhattan's Ritz-Carlton hotel by Andrea Zander A venture of Westbrook Partners and Korea Investment Corp. is in talks to sell the Ritz-Carlton hotel in Manhattan for $600 million. It is in discussions with Katara Hospitality of Qatar and Trinity White City Ventures, reported Bloomberg, citing people familiar with the matter.
Transactions | May 20, 2019 AEW fund buys first asset by Andrea Zander AEW Europe Value Investor II Fund (EVI II), a recently launched fund managed by AEW, has acquired its first acquisition, an office building in Munich-Riem acquired from KanAm Grund.
Transactions | May 20, 2019 Omega Healthcare Investors acquires MedEquities Realty Trust by Released Omega Healthcare Investors has acquired MedEquities Realty Trust.
Transactions | May 17, 2019 Harrison Street acquires state-of-the-art office and laboratory complex in Cambridge, Mass. by Released Harrison Street Real Estate Capital has acquired Osborn Triangle in Cambridge, Mass., from a subsidiary of the Massachusetts Institute of Technology.
Research | May 17, 2019 Among the world’s 20 fastest-growing retailers, Amazon is at No. 4 by Andrea Zander Despite Amazon headlines stating its dominating and disrupting the brick-and-mortar retail sector, it’s not the No. 1 seed as the fasting-growing retailer based on 2017-2018 sales growth, reported USA Today.
