Summary of Transaction Headlines

IPE Real Assets | “Macquarie Launches A$12 Billion ($7.7 Billion USD) Takeover Bid for Qube Holdings”

Macquarie Asset Management (MAM) is proposing to acquire all outstanding shares of Australian logistics group Qube Holdings in a transaction valuing the company at A$12 Billion ($7.7 Billion USD). MAM and the funds under its management are offering A$5.20 ($3.39 Billion USD) in cash per share through a scheme of arrangement, representing a 27.8% premium to Qube’s last closing share price of $4.07 ($2.65 Billion USD). The offer price would be reduced by the cash amount of any future dividends paid by Qube.

IPE Real Assets | “GIC and Brookfield make A$4 Billion ($2.5 Billion USD) Bid to Acquire National Storage REIT”

Brookfield and GIC have made a non-binding bid to acquire National Storage REIT (NSR) in a deal valued at A$4 Billion ($2.5 Billion USD). NSR said the consortium made up of Brookfield Property Group and GIC Investments Australia had offered to pay A$2.86 ($1.8 Billion USD) cash per stapled security. The offer price reflects a premium of more than 26% to the company’s share price of A$2.26 ($1.4 Billion USD) before NSR went into a trading halt.

PERE | “Kayne Anderson Raises $2.5 Billion for Fund VII, on Track to Beat Target”

The Los Angeles-based firm is targeting a net IRR of 15-18% for its seventh flagship opportunistic fund, which has a $3 Billion target. Kayne Anderson has closed on $2.5 Billion of commitments for its flagship seventh opportunistic fund, Kayne Anderson Real Estate Partners VII, PERE has learned. The Los Angeles-headquartered fund manager had reached the interim close as of the end of September, according to sources with direct knowledge of the fundraise, and has identified further soft-circled commitments that would take its total to $3.3 Billion above KAREP VII’s stated target of $3 Billion, and on the way to the fund’s hard cap of $4 Billion.

IPE Real Assets | “Arrow Global’s European Real Estate Lending Fund Closes at €1.5 Billion ($1.7 Billion USD)”

Arrow Global has secured €1.5 Billion ($1.7 Billion USD) in capital commitments for its European real estate lending strategy. The fund manager said the amount raised for Arrow Lending Opportunities Fund I at close exceeded its original target of €1 Billion ($1.15 Billion USD). The fund attracted commitments from public and private pension funds, insurance companies, sovereign wealth funds, and endowments across Europe, North America, and Asia.

IPE Real Assets | “Artemis Raises $1.4 Billion for US Healthcare Property Strategy”

Artemis Real Estate Partners has so far secured $1.4 Billion in total capital commitments for its latest US healthcare property strategy, according to a recent SEC filing. The total commitments comprise $1.2 Billion directed into Artemis Real Estate Partners Healthcare Fund III and an additional $200 Million in co-investment capital raised by the manager. As previously reported, Fund III targets a $1.5 Billion capital raise and will invest in medical office, senior housing, and debt.

IPE Real Assets | “North Carolina Retirement Commits $1.1 Billion to US Real Estate Debt”

North Carolina Retirement Systems is investing $1.1 Billion in US real estate debt via Benefit Street Partners managed strategies. The pension fund disclosed in a board meeting document that it had issued a $200 Million commitment to the BSP Real Estate Opportunity Fund II and committed $950 Million to two separate accounts with Benefit Street.

IREI | “Laura Clark Named Next CEO at Rexford Industrial Realty”

Rexford Industrial Realty has announced the implementation of its leadership succession plan, marking a significant transition for the company’s Executive team. The Board of Directors has appointed Laura Clark, currently COO, to serve as CEO effective April 1, 2026. Clark also was appointed to the Board of Directors on Nov. 17. She will succeed current Co-CEOs Michael Frankel and Howard Schwimmer, who will step down from their Executive roles on March 31, 2026, while continuing to serve as Director until the 2026 annual meeting of shareholders.

IREI | “Dianne Sandoval Appointed as New CIO for Maryland State Retirement and Pension System”

The Board of Trustees of the Maryland State Retirement and Pension System (SRPS) has appointed Dianne Sandoval as the new CIO. In her new role, Sandoval will be responsible for oversight of all SRPS investments, leading the investment team, developing and implementing investment strategies, and ensuring the long-term financial health of Maryland’s pension system.

Business Wire | “Dream Industrial REIT Appoints Chief Operating Officer”

Dream Office is pleased to announce the appointment of Mr. Gord Wadley as the Trust’s Chief Operating Officer, effective January 1, 2026. In his new role with the Trust, Mr. Wadley will be responsible for all aspects of portfolio operations, including property management and leasing. Mr. Wadley is currently the Chief Operating Officer of Dream Office REIT.

IREI | “CBRE Appoints Ada Fung as COO, Advisory Services, CBRE Hong Kong”

CBRE has appointed Ada Fung as COO, Advisory Services, CBRE Hong Kong, effective immediately. In her expanded role, Fung will lead all advisory business lines in Hong Kong. With this appointment, Fung will set the strategy for the Hong Kong business, oversee the financial and operational performance, spearhead market share growth initiatives, drive strategic hiring and talent development, and cultivate a high-performing, inclusive organizational culture.