4.7.22 | This week we recognized 4 capital related transactions with a disclosed value of $4.3 Billion USD.
| Deal Size (Bn USD) | Capital Related Transactions |
| $1,450 | GI Partners Raises Initial $1.45 Billion for Life Science, R&D Real Estate Fund |
| $1,100 | Camden Buys Out Partner in $1.1 Billion Multifamily Portfolio Deal |
| $1,000 | Creation, J.P. Morgan Form $1 Billion Industrial JV |
| $739 | Hammes Partners Raises $739 Million for Latest Healthcare Real Estate Fund |
| $4,289 | Total |
Summary of Transaction Headlines
IPE Real Assets | “GI Partners Raises Initial $1.45 Billion for Life Science, R&D Real Estate Fund”
GI Partners has raised an initial $1.45 Billion (€1.69 Billion) for its new US open-ended core-plus life science and technology-related real estate fund managed. GI Partners said the amount raised for the GI Real Estate Essential Tech + Science Fund’s (ETS Fund) initial fundraising period exceeded the fund’s hard cap.
Businesswire | “Camden Buys Out Partner in $1.1 Billion Multifamily Portfolio Deal”
Multifamily real estate investment trust Camden Property Trust purchased the entire stakes in its two discretionary investment funds from Teacher Retirement System of Texas. The REIT previously owned 31.3% of the funds’ interests and now acquired the remaining 68.7% stakes. The deal includes 22 multifamily communities with 7,247 apartment units, mainly in the U.S. Sun Belt markets. The company funded the consideration, which totals about $1.1 Billion after adjusting for roughly $520 Million of assumed secured mortgage debt, with cash on hand and borrowings under its unsecured line of credit.
Commercial Property Executive | “Creation, J.P. Morgan Form $1 Billion Industrial JV”
Creation RE, a Phoenix-based real estate investment and development firm, and J.P. Morgan Global Alternatives are investing $1 Billion in industrial, warehouse and logistics projects across four states in a newly formed joint venture. The joint venture partners have closed on three of seven planned projects totaling 5 Million Square Feet in Newark, N.J.; Melville, N.Y.; Islandia, N.Y.; Fort Worth, Texas; Chandler, Ariz.; Gilbert, Ariz., and Phoenix.
Businesswire | “Hammes Partners Raises $739 Million for Latest Healthcare Real Estate Fund”
Hammes Partners, one of the leading institutional investment management firms focused on the U.S. healthcare real estate market, announced the final closing of its third closed-end value-add fund, Hammes Partners IV, L.P. (the “Fund”), with $739 Million in capital commitments. The oversubscribed Fund achieved its hard cap within seven months of its launch, receiving strong support from existing investors and consulting relationships, and substantial interest from a diverse base of new investors.
Businesswire | “PS Business Parks, Inc. Names Stephen W. Wilson as President and CEO”
PS Business Parks, Inc. announced today that Stephen W. Wilson has been appointed as the Company’s President and Chief Executive Officer, effective immediately. Mr. Wilson has been serving as interim President and Chief Executive Officer since January 17, 2022. Mr. Wilson has been a director of the Company since July 2019 and will continue to serve as a director.
PR Newswire | “J.P. Morgan Asset Management Hires Ash Williams as Vice Chair”
J.P. Morgan Asset Management today announced that it has hired Ash Williams, former Chief Investment Officer and Executive Director of the Florida State Board of Administration (SBA), as Vice Chair, Asset Management. Mr. Williams will work for the firm part-time, reporting into the Head of North America Institutional, Keith Cahill. He will continue to be based in Tallahassee, Florida.
Yahoo Finance | “Recreational Realty Appoints Mike Schwartz as CFO and COO and Expands Senior Leader Team”
Recreational Realty LLC, a leading owner, operator and developer of specialized recreational vehicle and marine storage facilities, today announced a number of strategic senior hires that bring decades of expertise to Recreational Realty’s rapidly growing platform, including the appointment of Mike Schwartz as Chief Financial Officer and Chief Operating Officer, effective April 11, 2022.
Financial Investigator | “Christoph Glaser Becomes New CFO at PATRIZIA AG”
Christoph Glaser (51) has been appointed to the company’s Management Board, effective April 1 , 2022, where he will assume the functions of the Chief Financial Officer (CFO). In addition, Christoph Glaser will assume responsibility for Risk Management, Investor Relations, and Procurement & Services. Christoph Glaser was previously the Chief Financial Officer of Home Credit Group, the global consumer finance business of PPF Group, which operates across nine mature and emerging markets in Europe and Asia. Previously, Glaser held several CFO and other senior management roles at General Electric.
PERE News | “PAG’s IPO is an Anomaly in Asia Private Real Estate”
PAG’s decision to push ahead with its rumored listing goes against the grain of how other managers are pursuing growth in Asia’s private real estate market. The firm filed for an initial public offering on the Hong Kong Stock Exchange late last week with investment banks Goldman Sachs Group and Morgan Stanley as joint sponsors. The heavily redacted document did not provide financial details or a timeframe for the listing, though PAG is expected to seek as much as $2 Billion from the listing.
If you would like to learn more about the large platform events we are tracking, please reach out to David Stanford or John Seaton. If you would like to suggest a news or media outlet that should be considered, please contact us.
Large Platform Events | Issue 26.16
Large Platform Events | Issue 26.15
