Summary of Transaction Headlines

Bloomberg | “Bain to Offload China Data Centers to HEC-Group in $4 Billion Deal”

Bain Capital agreed to sell its data centers in China to Shenzhen Dongyangguang Industry Co. in a transaction valued at about $4 Billion. Shenzhen Dongyangguang, the parent of Shanghai-listed Guangdong HEC Technology Holding Co., is leading a consortium that also features institutional investors, including insurers and local government funds, in acquiring the China assets of WinTrix DC Group. WinTrix was formerly known as Chindata Group Holdings Ltd.

IPE Real Assets | “CalSTRS Commits $2.3 Billion to Real Estate Managers in First Half 2025”

California State Teachers Retirement System (CalSTRS) made $2.3 Billion worth of real estate investments during the first half of the year to target industrial, residential, debt, and alternative property types. The pension fund said it allocated $300 Million to a new core, value-add, and opportunistic industrial separate account with CBRE Investment Management. CalSTRS also placed $200 Million into GGCal Industrial, an industrial joint venture between Principal Real Estate Investors and Greenberg Gibbons Properties.

Bloomberg | “Brookfield Weighs Sale of €1.9 Billion ($2.2 Billion USD) European Student Dorms”

Brookfield Asset Management Ltd. is weighing the sales of a major European student housing business as the company looks to ramp up disposals from its real estate funds after several years of anemic dealmaking. The alternative asset manager has appointed Morgan Stanley to advise on a potential sale of International Campus, people with knowledge of the process said. The business, which owns 20 properties with about 7,100 beds combined, is expected to attract bids in the region of €1.9 Billion ($2.2 Billion USD), the people said, asking not to be identified as the process is private.

Business Wire | “Vantage Data Centers Secures $1.6 Billion Investment in APAC Platform from GIC and ADI”

Investment to support accelerated expansion in APAC, including acquisition of a hyperscale data center campus in Johor, Malaysia, strengthening Vantage’s position as a market leader in Asia Pacific Vantage Data Centers, a leading global provider of hyperscale data center campuses, announced that it has secured a $1.6 Billion investment to scale its Asia-Pacific platform. The investment was led by an affiliate of GIC, a global institutional investor, and a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”). GIC and ADIA (through their respective affiliates) are both existing investors in Vantage Data Centers.

GlobeSt. | “Milestone Group Closes $1.1 Billion Fund Targeting Multifamily in Sunbelt and Mid-Atlantic”

The Milestone Group has closed another real estate funding round, with this one fetching $1.1 Billion, a move that will give the private equity firm flexibility to explore more multifamily acquisitions. Milestone Real Estate Investors VI, LP, marks the Dallas-based firm’s sixth discretionary equity vehicle, and it was oversubscribed by investors. The strategy will involve not only buying but also repositioning undercapitalized and undermanaged multifamily assets in suburban middle-market communities.

Multi-Housing News | “Manulife, TruAmerica Start $1 Billion Affordable JV”

Manulife Investment Management and TruAmerica Multifamily have forged a $1 Billion affordable housing joint venture dubbed Anchor Point Residential. The duo will purchase a 6,000 income-restricted unit portfolio encompassing 51 assets to kick off their new platform. The communities are scattered throughout California, Texas, and Washington across markets such as Los Angeles, San Diego, Orange County, Sacramento, Bakersfield, Austin, Houston, and Dallas. Their debut year ranges between 2003 and 2023.

Business Wire | “Morgan Stanley Investment Management Raises JPY131 Billion ($900 Million USD) for North Haven Real Estate Japan Strategy Fund I”

Morgan Stanley Real Estate Investing (MSREI), the private real estate investment arm of Morgan Stanley Investment Management (MSIM), announced it has held the final close and raised JPY131 Billion (approximately ($900 Million USD) for its inaugural North Haven Real Estate Japan Strategy Fund I (JSF or the Fund), exceeding the original fundraising target of JPY 75 Billion (approximately $500 Million USD). The majority of the JSF investor base is comprised of Japanese pension funds and financial institutions, paired with foreign sovereign wealth funds.

Commercial Observer | “Eric Plesman to Rejoin Oxford Properties Group as President and CEO”

Toronto-based Oxford Properties Group has announced that Executive Chair Daniel Fournier will be stepping away from his leadership role at the company, and that Oxford’s former Executive Vice President for North America, Eric Plesman, will rejoin the company as President and CEO. The company, owned by Canadian pension fund Omers, is characterizing the change as a “planned leadership transition,” and said that a “comprehensive succession process” led to Plesman’s selection.

Property Week | “Hammerson Confirms Appointment of AEW Boss as Next CEO”

AEW Europe Chief Executive Rob Wilkinson will succeed Rita-Rose Gagné as CEO of Hammerson in January. The company announced in June that Gagné would be stepping down following five years in the role. Wilkinson will join the Board on 15 December. Gagné will continue to lead the business until the end of the year.

Mingtiandi | “Blackstone Rejigs Asia Real Estate Leadership as Alan Miyasaki Departs Singapore”

Blackstone’s longtime Head of Acquisitions for Asia Real Estate, Alan Miyasaki, will leave his Singapore post in the coming months to return to the US. Miyasaki is exiting the role after 18 years in the region to be closer to family. He is to be succeeded by Luigi Caruso, Senior Managing Director and Chief Operating Officer of European Real Estate at the Manhattan-based private equity titan.

IREI | “Realterm Promotes Price Booker to CIO”

Realterm has promoted Price Booker to CIO. In his expanded role, Booker will lead the execution of the firm’s investment strategy, asset selection, underwriting and performance, while supporting the firm’s ongoing capital raising initiatives. He also will serve on Realterm’s Global investment committee. During his 11 years with Realterm, Booker has overseen the global expansion of the investment team to include full regional capabilities in Europe and Australia.