People | May 31, 2018 Mark Zinkula to retire from Legal & General next year by Jody Barhanovich Mark Zinkula has plans to retire as the CEO of Legal & General’s investment management arm on Aug. 31, 2019.
Fundraising | May 31, 2018 MCR Development raises $192m for hospitality fund by Jody Barhanovich MCR Development, a New York–based hotel owner and operator, has raised $192.4 million for MCR Hospitality Fund.
Fundraising | May 31, 2018 Kayne Anderson holds $1.8b final close for fifth fund by Jody Barhanovich Kayne Anderson Real Estate has held a final close for its fifth opportunistic fund.
Research | May 31, 2018 Co-working space grows in greater China by Jennifer Molloy Greater China’s co-working office sector has seen rapid growth and expansion from a few large venues several years ago to 550 locations in key city markets at the end of first quarter 2018, according to Cushman & Wakefield’s latest report, Greater China Co-working Office Space.
Transactions | May 30, 2018 Alabama city approves $750m data center by Andrea Zander The city of Huntsville, Ala., has approved a $750 million data campus development.
Transactions | May 30, 2018 Oaktree JV acquires multifamily portfolio for $142m by Jody Barhanovich TruAmerica Multifamily, a vertically integrated, value-add multifamily investment firm, in partnership with funds managed by Oaktree Capital Management, a global investment manager, has acquired two multifamily properties in Phoenix and Las Vegas in separate transactions totaling $142.1 million.
Research | May 30, 2018 Size of the German hotel market doubles in the past 10 years by Jody Barhanovich The investable hotel market in Germany grew in 2017 by approximately 6 percent to €52.6 billion ($61.3 billion) compared with 2016, according to the latest market value analysis carried out by Union Investment and bulwiengesa. The size of the German hotel market has doubled in the past 10 years as well.
Transactions | May 30, 2018 HNA sells San Francisco office tower to Northwood Investors by Andrea Zander China-based HNA Group Co. has sold a San Francisco office tower at 123 Mission Street for an estimated price of $300 million, according to Bloomberg.
Investors | May 30, 2018 Hilton partners with China’s Country Garden by Andrea Zander Hilton has formed a partnership with Chinese hotel owner/developer Country Garden Hotels Group.
Transactions | May 30, 2018 MGM to acquire Empire City Casino, Raceway for $850m by Released MGM Resorts International and MGM Growth Properties has entered into an agreement to acquire the real property and operations associated with the Empire City Casino’s race track and casino in Yonkers, N.Y., for consideration of $850 million.
Research | May 30, 2018 Beijing’s office market remains stable while rents slightly increase by Andrea Zander During the first quarter 2018, in spite of a big amount of new supply entering into the market, the Beijing’s overall office vacancy rate decreased by 0.6 percentage points quarter-over-quarter to 5.3 percent, as a result of large take-up in some submarkets, according to Knight Frank.
Investors | May 30, 2018 North Carolina commits $450m to Landmark funds by Jody Barhanovich The $96 billion North Carolina Retirement Systems has committed a total of $450 million from its inflation sensitive portfolio to three funds managed by Landmark Partners.
Transactions | May 30, 2018 LaSalle makes double acquisition from Aviva Investors by Andrea Zander LaSalle Investment Management has entered into an agreement to acquire the Real Estate Multi-Manager (REMM) business of Aviva Investors, and full ownership of the management of the Encore+ fund.
Transactions | May 30, 2018 Bouwinvest invests in $3.7b NYC tower project by Andrea Zander Bouwinvest, the Dutch institutional real estate investor, has invested $100 million in the Tishman Speyer development project The Spiral as part of its strategy to grow North American assets under management by one-third in the next few years.
Fundraising | May 30, 2018 ESR completes closings of $1.2b of equity for Japan developments by Andrea Zander ESR, a pan-Asia logistics real estate developer, owner and operator, has completed the fund raise of its most recent Japan fund.
Transactions | May 30, 2018 Commerz Real buys New York office building for $333m by Jody Barhanovich Commerz Real, a subsidiary of Commerzbank AG, has purchased the 25-story office building at 222 E. 41st Street in New York City for $333 million.
Transactions | May 30, 2018 Newmark to acquire RKF Retail Holdings by Released Newmark Group has agreed to acquire RKF Retail Holdings and subsidiaries that make up the RKF brand.
Investors | May 30, 2018 Aviva Investors establishes real assets business by Andrea Zander Aviva Investors has formed a new real assets business (AIRA), bringing together direct real estate, infrastructure, structured finance and private debt under a single leadership and operating structure.
People | May 30, 2018 TGM Associates co-founder passes away by Released TGM Associates has announced the death of its co-founder and long-time CEO, Thomas Gochberg.
People | May 29, 2018 Scott Evans to depart as CIO of New York City Retirement Systems by Andrea Zander Scott Evans, the chief investment officer of the New York City Retirement Systems, will leave on June 29, the end of the current fiscal year.
