Summary of Transaction Headlines

Yahoo Finance | “Public Storage to Acquire National Storage Affiliates in $10.5 Billion Deal”

Public Storage (NYSE: PSA) announced that it will acquire National Storage Affiliates (NYSE: NSA) in an all-stock transaction valued at approximately $10.5 Billion. Under the agreement, NSA shareholders will receive 0.14 shares of PSA stock for each NSA share, implying a price of $41.68 per share. The acquisition will combine more than 1,000 properties, 69 Million Rentable Square Feet, and 550,000 units across 37 states and Puerto Rico. The combined company would have a pro forma equity market capitalization of approximately $57 Billion and a total enterprise value of roughly $77 Billion.

IREI | “CBRE IM Closes $2.1 Billion APAC Real Estate Fund”

CBRE Investment Management has announced the closure of its Asia Pacific value-added real estate fund, Asia Value Partners 7 (AVP 7). The fund closed with equity commitments of $1.865 Billion, exceeding its fundraising target of $1.5 Billion. An additional $250 Million was secured in co-investment capital, taking total equity raised to $2.115 Billion. The fund is expected to have a total purchasing power of more than $5 Billion to be deployed over a 36-month investment period.

IREI | “Marcus Partners Completes Fundraising for Largest Fund to Date at $875 Million”

Marcus Partners has completed fundraising for Marcus Capital Partners Fund V, L.P., a value-added real estate fund with commitments totaling $875 Million. This exceeds both the original $750 Million fundraising target and the $850 Million hard cap. “Strong participation from our existing investors, along with several new institutional partners, drove interest in Fund V well beyond its capacity,” said Patrick Sousa, Partner, COO, and Head of Capital at Marcus Partners. “The oversubscription reflects investor confidence in our strategy, our team, and our disciplined approach to investing across market cycles.”

Pensions & Investments | “Danish Pension Fund Sampension Elevates Hansen to CEO Role”

Sampension’s Chief Executive Officer Hasse Jorgensen has left the Danish pensions firm with immediate effect, with the firm’s Chief Operating Officer Mads Smith Hansen replacing him. Smith Hansen has been COO of Sampension since 2020 and has a total of 15 years of experience working at the company, located in the North Copenhagen district of Hellerup. He has also been a Group Director of the Danish Statutory Pension Fund ATP as well as CEO of Norli Pension.

CoStar | “Battersea Power Station Appoints New CEO”

Battersea Power Station Development Company (BPSDC) has appointed James Saunders as its new Chief Executive. Saunders spent the last 18 years building and spearheading the mixed-use Wembley Park estate at Quintain, serving as Commercial Director, Chief Operating Officer, and, most recently, Chief Executive, a role he held for six years. At BPSDC, he will replace Sam Cotton, who announced he will leave at the end of April after nine months as Interim Chief Executive and a decade at the company.