Large Platform Events | Issue 22.29

Recently Announced Transactions | 2022 Week 29

7.21.22 | This week we recognized 2 capital-related transactions with a disclosed value of $570 Million USD.

Deal Size (Bn USD)	Capital Related Transactions
$0.6	Blackstone’s Link Logistics Shopping 26 Western Warehouses for $570 Million
N/A	S2 Capital Acquires 14-Property Texas Portfolio
$0.6	Total

Additionally, we recognized 2 leadership changes within the industry.

Summary of Transaction Headlines

Globest | “Blackstone’s Link Logistics Shopping 26 Western Warehouses for $570 Million”

Link Logistics, an industrial CRE unit of global investment giant Blackstone, is shopping three portfolios of Western warehouses, each encompassing more than 900K SF. CBRE is marketing the portfolios, which it says are all fully leased with overall weighted average remaining lease term of 3.6 years. The brokerage is touting below-market rents for the properties that can be raised upon rollover, according to a Green Street report. The estimated value of the entire package is $570 Million, a $204 per SF valuation that analysts estimate would give a buyer an initial annual yield of nearly 4%.

Multi-Housing News | “S2 Capital Acquires 14-Property Texas Portfolio”

S2 Capital has acquired 14 properties in the Dallas-Fort Worth and Houston Metros with plans for extensive renovations that will modernize the portfolio. The company acquired the portfolio from an undisclosed seller and is making the investment through its S2 Multifamily Value-Add Fund 1.

Pensions & Investments | “Heitman Appoints Chief Diversity Officer”

Rachna Velamati has rejoined real estate manager Heitman in the new role of chief diversity officer, a Heitman spokeswoman said in an email. In addition to leading Heitman’s inclusion and equity strategies, Ms. Velamati serve on the firm’s global management committee and diversity, equity and inclusion council. She had been a vice president leading the inclusion, diversity and equity efforts at Nuveen.

PERE News | “GLP Hires Ex-Microsoft Executive to Lead Global Data Center Business”

GLP has hired Jennifer Weitzel as president of its global data center business to oversee all areas of the Singapore-based manager’s operations in the sector outside of China, PERE has exclusively learned. The first focus in Weitzel’s new role is hiring the right team. GLP’s overall data center platform has approximately 600 people globally, with around 40-50 ex-China employees that the firm began hiring last year. Weitzel wants ‘boots on the ground’ in some of the key growth markets but didn’t disclose how many people the firm planned on hiring. Outside of the US, those key markets include Brazil and the UK, as well as Japan, where the firm has an existing presence in Tokyo and Osaka. In the US, Northern Virginia, Chicago, Phoenix and the Bay Area are the main focuses, Weitzel said.

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.