9.15.22 | This week we recognized 3 capital-related transactions with a disclosed value of $3.9 Billion USD.
| Deal Size (Bn USD) | Capital Related Transactions |
| $2.2 | LaSalle Raises $2.2 Billion for Sixth Asia Pacific Opportunistic Fund |
| $1.1 | CalSTRS Makes $1.1 Billion Industrial Commitments |
| $0.6 | Great Southern Homes to Go Public Through Merger with Diamondhead Holdings in $572 Million Deal |
| $3.9 | Total |
Additionally, we recognized 2 leadership changes within the industry.
- Sway Ventures Welcomes Former Blackstone Backed, EQ Office CEO Lisa Picard as Partner on Its PropTech Investing Team
- ShopCore Expands Executive Team with the Addition of Two Experienced Industry Leaders
Summary of Transaction Headlines
CRE Herald | “LaSalle Raises $2.2 Billion for Sixth Asia Pacific Opportunistic Fund”
LaSalle Investment Management has raised over US$2.2 Billion of equity for LaSalle Asia Opportunity VI (LAO VI) fund, including sidecars and co-investment programmes, exceeding its initial target of US$1.5 Billion. LaSalle said the committed capital would provide buying power for over US$7 Billion worth of assets. LAO VI is the sixth in LaSalle’s closed-ended, opportunistic fund series focusing on Asia Pacific.
IPE Real Assets | “CalSTRS Makes $1.1 Billion Industrial Commitments”
California State Teachers Retirement System (CalSTRS) made three new industrial real estate commitments worth $1.1 Billion (€1.06 Billion) in total during the first half of 2022. CalSTRS disclosed it placed $500 Million into CalPoint Industrial JV, a core US industrial real estate investment venture managed by an unnamed party. The $315 Billion pension fund has also placed $400 Million into the CP Logistics UK JV to target opportunistic assets in the UK and made a $225 Million commitment to BentallGreenOak US Cold Storage Fund, which has now exceeded its $400 Million target by $50 Million. The BentallGreenOak fund previously received $150 Million from the State of Wisconsin Investment Board and $75 Million from the Michigan State Retirement System.
Builder Online | “Great Southern Homes to Go Public Through Merger with Diamondhead Holdings in $572 Million Deal”
The builder will operate under the name United Homes Group following the closing of the transaction in the first quarter of 2023. Great Southern Homes (GSH), the 45th largest company on the 2022 BUILDER 100 list, has entered into a definitive merger agreement with DiamondHead Holdings Corp., a special purpose acquisition company. Upon the closing of the acquisition, GSH will become a publicly traded company and DiamondHead Holdings will be renamed United Homes Group (UHG). The transaction values the combined company at a pro forma enterprise value of approximately $572 Million, as of Dec. 31, 2022.
PR Newswire | “Sway Ventures Welcomes Former Blackstone Backed, EQ Office CEO Lisa Picard as Partner on Its PropTech Investing Team”
Sway Ventures today announced that multi-decade commercial real estate operator and former Blackstone backed, EQ Office CEO, Lisa Picard has joined the firm as a Partner. Picard adds to the PropTech team at Sway Ventures, which includes Ray Wirta, former Chairman of CBRE, as well as advisors including Doug Holte, CEO for Hines Global Innovation & ESG; Stephanie Fuhrman, former MD of Innovation at Greystar; and Mollie Fadule, Chief Financial & Investment Officer at JPI Companies; among others.
Businesswire | “ShopCore Expands Executive Team with the Addition of Two Experienced Industry Leaders”
ShopCore Properties (“ShopCore”) today announced the appointments of Lauren Holden and Jessica Zaski to the newly established leadership positions of Chief Operating Officer and Chief Transactions Officer, respectively, effective immediately. Both will also hold the title of Executive Vice President.
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
