5.19.22 | This week we recognized 3 capital related transactions with a disclosed value of $2.9 Billion USD.
| Deal Size (Bn USD) | Capital Related Transactions |
| $1.0 | Partners Group to Buy US Rental Homes for Over $1 Billion |
| $1.9 | Secure Income REIT Agrees to $1.85 Billion Takeover by LXI REIT |
| N/A | EQT Exeter to Buy US Residential Real Estate Manager Redwood Capital |
| $2.9 | Total |
Additionally, we recognized 2 leadership changes within the industry.
Leadership
- Monroe Capital Hires Gila Cohen to Head Global Institutional Partnerships
- Digital Transformation Executive Adolfo Villagomez Joins Progress Residential as CEO
Summary of Transaction Headlines
Wealth Management | “Partners Group to Buy US Rental Homes for Over $1 Billion”
Partners Group Holding AG has agreed to buy more than 2,000 rental houses owned by Fortress Investment Group, according to people with knowledge of the matter — the latest bet on US residential real estate by an alternative asset manager. The transaction values the portfolio at more than $1 Billion. Included are more than 2,000 new-build homes operated by Kairos Living and about 1,000 homes in contract.
IREI | “Secure Income REIT Agrees to $1.85 Billion Takeover by LXI REIT”
Secure Income REIT has agreed to a takeover by LXI REIT PLC in a deal that values the company at £1.5 billion (€1.75 Billion/$1.85 Billion). The merged company will have a portfolio of 346 properties that are 100-percent occupied with a combined value of about £3.9 Billion (€4.6 Billion/$4.8 Billion), and with contracted annual rental income of about £194 Million (€227 Million/$239 Million). LXI REIT Advisors will continue as investment adviser to the combined group, with key members of the Prestbury Management team (investment adviser to secure income) continuing to have an ongoing role.
Multi-Housing News | “EQT Exeter to Buy US Residential Real Estate Manager Redwood Capital”
EQT AB has acquired U.S. residential real estate investment manager Redwood Capital Group. The company’s personnel and assets will be combined with the U.S. multifamily arm of EQT Exeter, the Stockholm-based private equity firm’s real estate division. Redwood Capital was founded in 2007 by David Carlson and Mark Isaacson. According to Redwood Capital’s website, the company’s portfolio comprises 30 multifamily communities in 15 metropolitan markets in Arizona, Colorado, Florida, Georgia, Illinois, Minnesota, North Carolina, South Carolina and Texas. It also has more than $1.7 Billion in assets under management.
Monroe Capital | “Monroe Capital Hires Gila Cohen to Head Global Institutional Partnerships”
Monroe Capital LLC announced Gila Cohen has joined the firm as Managing Director, Head of Global Institutional Partnerships based in the firm’s New York office. She will be responsible for new initiatives to expand Monroe’s global footprint, among institutional investors, focusing on the high growth Opportunistic and Real Estate private credit areas of the firm.
Rent Progress | “Digital Transformation Executive Adolfo Villagomez Joins Progress Residential as CEO”
Progress Residential, the leading single-family rental management services platform, today announced that it has named Adolfo Villagomez as Chief Executive Officer, effective May 23, 2022. Mr. Villagomez brings more than two decades of experience leading consumer-facing businesses and delivering profitable growth in digital and traditional domains.
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.
