Summary of Transaction Headlines

IPE Real Assets | “The Crown Estate Plans £4.5 Billion ($6 Billion USD) UK Science Hub Near Harwell Campus”

The Crown Estate, the manager of the British monarch’s UK property portfolio, has acquired a 221-acre site in Oxfordshire for a planned £4.5 Billion ($6 Billion USD) science, innovation, and technology campus project. The Crown Estate said it has acquired Harwell East, the site next to the Harwell Science and Innovation Campus in Oxfordshire, to establish a major new hub. The development, once approved, could feature up to 4.5 Million Square Feet of office, laboratory, and advanced manufacturing space, alongside up to 400 homes. The Crown Estate said the acquisition forms part of its commitment to invest up to £1.5 Billion ($2 Billion USD) in the sector over the next 15 years.

MarketScreener | “StepStone Unit, Greykite to Acquire Majority Stake in Vitalia for $1.7 Billion USD”

StepStone Real Estate and Greykite have agreed to a $1.7 Billion transaction to recapitalize Vitalia, Spain’s second-largest care-home owner and operator. Under the deal, the real estate arm of private markets firm StepStone Group and the London-based manager will acquire a majority Interest in Vitalia from Vivaly Investments, a joint venture between private markets manager CVCs CVC Fund VI and Spanish private equity firm Portobello Capital’s Portobello Capital Fund III.

Property Week | “Australia’s Largest Pension Fund to Invest £500 Million ($667 Million USD) in UK Rental Homes”

AustralianSuper has created a £500 Million ($667 Million USD) UK living platform with the aim of becoming one of the top five rental home operators in the UK over the next five years. The Australian pension fund said that it was looking to create institutional grade living accommodation encompassing student, co-living, and residential homes, and that it had made its first investment in a student housing development in Bristol. Launching with an initial £500 Million ($667 Million USD) of investment, AustralianSuper said there was ambition to deploy funds at scale over the next 12 months and a strong pipeline of opportunities.

IPE Real Assets | “BVK’s Head of Real Estate Capital Investment Fackelmann Quits”

BVK – Norman Fackelmann, Head of the €117 Billion ($135.7 Billion USD) German Pension Fund’s Real Estate Capital Investment division, has departed, according to a spokesperson. Fackelmann’s exit follows that of his direct report, Rainer Komenda, who headed the Real Estate Investment Management department for two decades. Fackelmann’s departure comes just weeks after BVK publicly admitted to compliance violations tied to loss-making US real estate transactions.

IREI | “CBRE Announces New Roles for Key Property Management Leaders in Asia Pacific”

CBRE has made new leadership appointments for Natalie Slessor, who will take on a newly created role as Head of Property Management for Asia Pacific, and James King, who will succeed Slessor as Head of Property Management for Australia and New Zealand. Both roles will come into effect on Jan.1, 2026. In her new position, Slessor will support more than 9,000 property management professionals in 15 key markets across the Asia Pacific region and will join CBRE’s Global Property Management Leadership team.

IREI | “PGIM Expands Australian Real Estate Business With Senior Hires to Drive Growth”

PGIM has made two new appointments to its Real Estate Business. Sam Mellor joins as Head of Real Estate Debt, Australia, effective immediately. With more than 27 years of experience in the debt markets and portfolio management across Europe and Asia Pacific, Mellor will oversee PGIM’s Australian Real Estate Debt Strategies and Portfolio Management team. Stuart Carr will join PGIM as Head of Real Estate Equity, Australia, in December 2025. Carr brings more than two decades’ experience in Australian real estate development and transactions. He will oversee the equity transaction team and lead origination, investment execution, and divestment activities across Australia.

Property Week | “Lloyds Living Appoints New CEO”

Lloyds Banking Group’s housing arm, Lloyds Living, has appointed Matt Burgess as Chief Executive, succeeding Andy Hutchinson, who stepped down earlier this year. Burgess is currently acting Chief Executive and will step up from his role as Chief Investment Officer on a permanent basis. Before joining Lloyds in July 2021, he was a Director at JLL with a dual role across residential capital markets and the banking and capital businesses.

IREI | “S3 Capital Appoints Michelle Fang as Head of Marketing and Investor Relations”

S3 Capital has appointed Michelle Fang as Head of Marketing and Investor Relations. Having previously worked with S3 in a consulting capacity, Fang will lead S3’s marketing, fundraising, and investor engagement strategy, working closely with Co-Founders Joshua Crane and Robert Schwartz as the firm continues to deepen relationships with institutional investors and communicate its differentiated approach to private credit. She will play a key role in new business initiatives, product development, and the overall growth strategy of the firm.

Commercial Observer | “Apollo Hires Invesco’s Bert Crouch to Lead Real Estate Equity Platform”

Apollo has hired Bert Crouch from Invesco to lead its Real Estate Equity Business, the private equity giant announced. Crouch, who spent 16 years at Invesco, including the last five as Head of North America at Invesco Real Estate, was named Partner and Head of Real Estate Equity at Apollo, a role he will begin in January.