Summary of Transaction Headlines

Property Week | “Unite to Buy Student Landlord Rival Empiric in £723 Million ($1 Billion USD) Deal”

Unite Group has agreed to acquire rival student accommodation provider Empiric Student Property in a recommended cash-and-stock deal valuing it at £723 Million ($1 Billion USD), both companies have announced. The combined group would own 75,000 student beds, 92% of which are in locations with Russell Group universities. Both boards are backing the deal, subject to shareholder approval, which will create a combined portfolio valued at £10.5 Billion ($12 Billion USD) with around 75,000 beds, 92% of which are in locations with Russell Group universities.

Financial Standard | “Invesco Acquires RetireAustralia for $550 Million USD”

Invesco Real Estate (IRE) has entered definitive documentation to acquire 100 percent of RetireAustralia, a leading owner, operator, and developer of retirement villages in Australia, for A$845 Million ($550 Million USD). IRE will acquire RetireAustralia from Infratil and the New Zealand Superannuation Fund, each of which holds a 50 percent interest in RetireAustralia. Both shareholders’ interests are managed by infrastructure investment manager Morrison.

Business Wire | “Bonaventure Bolsters Executive Team With Strategic Appointments of Mike Auerbach and Barrett Lowell”

Bonaventure, a vertically integrated multifamily real estate investment firm with $2.6 Billion in assets under management (AUM), announced two strategic additions to its Executive Leadership team. Mike Auerbach joined as Chief Growth Officer, overseeing Bonaventure’s tax equity initiatives, and Barrett Lowell joined as Head of Asset Management, focusing on the strategic oversight and growth of the broader portfolio. Mike Auerbach brings extensive experience in the tax equity investment space, particularly in 1031 exchanges.

IREI | “Security Properties Appoints Mark Bates as CIO”

Security Properties has named Mark Bates as Chief Investment Officer (CIO). As CIO, Bates will lead the firm’s investment strategy across all multifamily disciplines and geographies, ensuring that Security Properties remains a premier partner for multifamily capital. He will also play a key role in fostering relationships with capital partners and identifying emerging opportunities to expand the firm’s impact.

Yahoo Finance | “Sun Communities, Inc. Announces CEO Transition”

Sun Communities, Inc. (NYSE: SUI), a real estate investment trust (REIT) that owns and operates, or has an interest in, manufactured housing (“MH”) and recreational vehicle (“RV”) communities (collectively, the “properties”), announced that its Board of has appointed Charles D. Young as Chief Executive Officer (“CEO”), effective October 1, 2025. Mr. Young, who will also join the company’s Board of Directors, succeeds Gary A. Shiffman, who previously announced his planned retirement from the role of CEO after a distinguished 40 years leading Sun.

Housing Today | “Sage Homes Appoints Elizabeth Froude as CEO”

Sage Homes, England’s largest provider of newly built affordable housing for the last four years, has announced the appointment of Elizabeth Froude as its new CEO. This follows the news in January 2025 that Mark Sater would be stepping down as Sage Homes’ CEO after five years in the role. Elizabeth brings a wealth of experience as a Senior Executive, having spent 20 years in the housing sector. Elizabeth currently serves as Group Chief Executive of one of the UK’s largest social landlords, Platform Housing Group, where she has overseen the management of 50,000 homes and has been the driving force in shaping them as an ambitious and strong organization with a committed focus on putting their customers at the forefront of service design.

IREI | “CBRE IM Welcomes Jeffrey Selinger as Head of Residential for Americas Direct Real Estate Team”

Jeffrey Selinger has joined CBRE Investment Management as the Americas direct Real Estate Head of Residential Operator Division. In this role, Selinger will lead CBRE IM’s residential transactions and asset management activities across the firm’s core, core-plus, value-add and development strategies in the United States. Selinger will be based at CBRE Investment Management’s 200 Park Avenue office in NYC. Selinger, who began his career in 2004 in investment banking at Merrill Lynch, joins from JSB Capital Group, which transitioned from GMF Capital, where he served as Chief Investment Officer.