Large Platform Events | Issue 24.44

 

Summary of Transaction Headlines

IREI | “H.I.G. Capital Announces Closing of $2 Billion U.S. Lower Middle Market Fund”

H.I.G. Capital announced the closing of H.I.G. Capital Partners VII with $2 Billion of capital commitments. “We have been disciplined in maintaining our middle-market focus and are extremely proud of the consistent results we have delivered for our investors,” said Sami Mnaymneh and Tony Tamer, H.I.G. Co-Founders and Co-Executive Chairmen. “Fund VII is well positioned to deliver the same strong performance as its predecessor funds, driven by our scale, operational capabilities, and value-creation playbook.”

Commercial Property Executive | “Vantage Starts $2 Billion Ohio Data Center Project”

Vantage Data Centers has entered the Midwest with a $2 Billion investment. The company has broken ground on a 192-megawatt campus. Dubbed OH1, the facility will be situated on 70 acres in New Albany, a suburb northeast of Columbus. Upon completion, it will total more than 1.5 Million Square Feet. OH1 will be constructed to meet the company’s sustainability blueprint, which is targeting net zero operational carbon emissions by 2030. It is designed to achieve LEED Silver certification. 

IPE Real Assets | “Aware Super and Delancey Create £1 Billion ($1.2 Billion USD) UK Property Investment Venture”

Australian industry superannuation fund Aware Super and Delancey Real Estate have extended their partnership by forming a UK property joint venture to invest up to £1 Billion ($1.2 Billion USD). The venture will initially focus on prime Central London office properties, taking advantage of increased demand and “significant structural and regulatory change in the market and its repricing”. The new partnership will also explore opportunities in high-quality retail, logistics, and mixed-use properties that are currently undervalued.

IPE Real Assets | “APG and Bouwinvest-backed Australian BTR Venture Secures Site for A$1.5 Billion ($996 Million USD) Project”

Rent-to-Live Co. (RTL Co), an Australian build-to-rent (BTR) venture backed by APG and Bouwinvest, has secured a development site in Sydney for its first project, which is expected to have an end value of A$1.5 Billion ($944 Million USD). RTL Co., which was established last year by Scape Australia founders Craig Carracher and Stephen Gaitanos, acquired the Timberyards site, “one of the only large-scale urban redevelopment sites” in Marrackville, an Inner West suburb, from long-term landholders on undisclosed terms.

Bisnow | “Digital Bridge to Acquire Data Center Firm Yondr Group”

Digital infrastructure investment giant DigitalBridge has reached an agreement to buy Yondr Group, a global developer and operator of data centers for Big Tech tenants. While the terms of the deal weren’t immediately disclosed, London-based Yondr would continue to operate as an independent company within DigitalBridge’s portfolio after the transaction closes, the firms announced Monday morning. The companies expect the deal to close early next year.

IREI | “EQT Exeter Acquires Four Logistics Properties in Germany”

EQT Exeter announced the EQT Exeter European Logistics Value Fund IV has entered into an exclusive agreement to acquire four logistics properties in Germany from VIB Vermögen AG. The warehouses, strategically located across the cities of Munich, Nuremberg, and Frankfurt, provide a high degree of third-party usability through the properties’ design and locations. The buildings, which total 94,000 Square Meters (1 Million Square Feet), are located across three prime German submarkets offering access to the national road network.

Bisnow | “Equinix Touts Major Shift in Data Center Development Strategy”

Data center REIT Equinix is fundamentally rethinking its approach to where and how it builds new data centers. Facing record demand but with growing headwinds making it harder than ever to build new data centers quickly, the world’s largest digital infrastructure provider says it plans to consolidate much of its future data center development on massive, multi-purpose campuses in primary markets.

IREI | “Barings Appoints Greg Eudicone as Head of Global Real Estate Client Portfolio Management”

Barings announced it has appointed Greg Eudicone as Head of Global Real Estate Client Portfolio Management, expanding his focus from the United States to the global market as the real estate platform continues to scale. Eudicone and his team seek to provide diversified investment solutions to Barings’ global clients across real estate equity and debt asset classes, spanning risk types and investment vehicle structures, including strategic partnerships.

Pensions & Investments | “Cityview Selects Damian Gancman as its First CIO”

Damian Gancman will become real estate firm Cityview’s first chief investment officer, spokeswoman Jade Terry said. Gancman is being promoted to the new position of CIO from Chief Operating Officer and Chief Financial Officer, she said. He is retaining the CFO title. His previous COO responsibilities will be a part of this expanded CIO role, she said.

IREI | “Knight Frank Appoints Joshua Morris as U.K. Head of International Capital”

Knight Frank has appointed Joshua Morris, Partner, to the newly created role of U.K. Head of International Capital as it continues to enhance its global capital markets and real estate advisory platform. Morris has been a Partner in Knight Frank’s Capital Markets team since 2019. In his new role, he will be focused on bringing overseas capital sources to U.K. opportunities, working closely with Charlie Barke, U.K. Head of Capital Markets, and building on the firm’s strategic alliance with U.S.-based capital markets firm Berkadia. 

Pensions & Investments | “Julie Robinson Named First Head of Healthcare Real Estate at Clarion Partners”

Julie Robinson has joined real estate money manager Clarion Partners as a Managing Director, Head of Healthcare, a new role, a spokeswoman said. Robinson will be responsible for expanding Clarion’s healthcare real estate business, focusing on sectors including senior living, active adult communities, outpatient medical facilities, and life science hubs.

IREI | “SC Capital Partners Hires Daisuke Hiramoto as Managing Director and Head of Japan”

Daisuke Hiramoto has joined SC Capital Partners, an Asia Pacific real estate investment manager, as Managing Director and Head of Japan. Hiramoto will lead the firm’s Tokyo-based real estate investment team, focusing on equity and debt transactions across all real estate sectors as well as corporate-led deals. He will also be working closely with SC Capital Partners’ existing Japanese hospitality platforms: Japan Hotel REIT Advisors, asset manager of Japan Hotel REIT Investment Corp., and Hotel Management Japan, one of the largest multi-brand hotel operators in Japan.