Summary of Transaction Headlines

Bisnow  | “GIC, Prologis Team up for $1.6 Billion U.S. Logistics Development Venture”

Singapore sovereign wealth fund GIC has entered a joint venture with logistics real estate specialist Prologis to invest $1.6 Billion in the US. The joint venture will develop and own build-to-suit logistics facilities in major US markets and includes $1.6 Billion in combined capital commitments, including an initial portfolio of approximately 4.1 Million Square Feet which has “additional capacity for future investments.” Prologis said build-to-suit development had become a larger share of its pipeline as tenants make long-term commitments to distribution networks and operations. 

Bisnow  | “Apollo to Invest $1 Billion in 500 Realty Income Single-tenant Properties”

Asset manager Apollo Global Management, through managed funds and affiliates, will invest $1 Billion for a 49% interest in a new joint venture with Realty Income Corp. to own a portfolio of single-tenant retail properties with long-term net leases. Realty Income will continue managing the portfolio, which includes approximately 500 retail assets, according to a Realty Income press release. “We expect this partnership will serve as a template for a Multi-Billion-Dollar, programmatic co-investing relationship in the U.S.,” Realty Income President and CEO Sumit Roy said in a statement.

IPE Real Assets | “CapitaLand Ascendas REIT Acquires S$1.4 Billion ($1 Billion USD) Singapore, Japan Assets”

CapitaLand Ascendas REIT (CLAR) is expanding its footprint in Singapore and Japan through a S$1.4 Billion ($1 Billion USD) acquisition of three logistics and data center assets. CLAR is buying a cluster of ramp-up logistics and industrial buildings at 25 Loyang Crescent for S$504.2 Million ($392 Million USD) and a 50% interest in Ascent, a premium business space property at 2 Science Park Drive for S$245 Million ($190 Million USD) CLAR said a global sovereign wealth fund would acquire the remaining 50% interest in Ascent.

Bisnow | “Security Properties will Outsource Property Management of its 22,000 Unit Apartment Portfolio to Bozzuto Group as Part of a Strategic Operational Shift”

Security Properties is giving up on managing its vast portfolio of multifamily properties. The Seattle-based firm announced that it would transfer management of its portfolio, which totals 22,000 units across 110 assets with a value of more than $6 Billion, to external property managers. It chose Maryland-based Bozzuto Group as its primary property manager in the Pacific Northwest, where the bulk of its properties are located.

IREI | “Cabot Properties Announces Senior Leadership Appointments”

Cabot Properties has made a series of leadership appointments and firmwide promotions. Kara Brown has been promoted to Chief Administrative Officer in addition to her existing roles as General Counsel, Chief Compliance Officer, and Secretary. Justin Harvey and Mike McCarthy have been promoted to Co-CIOs of Cabot’s Value Funds moving forward, assuming regional leadership responsibilities across Europe and the United States, respectively. Damian Bailey has been promoted to CIO of Cabot’s Core Funds following the deployment of Core Fund III, succeeding Charlie Forbes as part of a planned leadership transition. Charlie Forbes will transition to Vice Chairman of Investment Committees for the core and value funds, where he will continue to provide strategic oversight and investment guidance.

Business Wire | “Anuj Kadyan to Join CBRE as Chief Technology & Transformation Officer”

CBRE Group, Inc. (NYSE: CBRE) announced that Anuj Kadyan will join the company as Chief Technology & Transformation Officer on May 15. Mr. Kadyan is currently a Senior Partner at McKinsey & Company, where he serves as Co-Leader of the Technology Services Practice. Mr. Kadyan has advised the world’s leading AI, cloud, and technology companies on their core strategies, M&A, and commercial operations. 

Business Wire | “RioCan Announces Interim Chief Financial Officer Appointment”

RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) announced the appointment of Franca Smith as Interim Chief Financial Officer, effective immediately, during the temporary medical leave of Dennis Blasutti. Ms. Smith joined RioCan in 2017 as Vice President, Finance, and has served as Senior Vice President, Finance since 2022. In this capacity, she leads the Trust’s financial reporting and controls, corporate taxation, accounting, and internal audit functions.

IREI | “MARK Appoints New Head of Asset Management for Crossbay”

MARK Capital Management has appointed a New Head of Asset Management for its urban logistics strategy, Crossbay. Claire Haddon has joined Crossbay from Oxenwood Real Estate, a pan-European vertically integrated logistics specialist. There, she was responsible for overseeing a diverse pan-European portfolio totaling approximately 181,000 Square Meters (1.9 Million Square Feet) as Head of Asset Management.

Business Wire | “Victoria Lake Joins Cushman & Wakefield as Chief Financial Officer, APAC & EMEA”

Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, has appointed Victoria Lake as Chief Financial Officer (CFO), APAC & EMEA. Lake is a Senior Executive who joins Accenture, where she was Deputy CFO of its substantial EMEA business. Her 20 years at Accenture involved serving in multiple leadership roles, including Managing Director, Accenture Corporate Development, leading M&A teams on acquisitions, including five sustainability companies.

Business Wire | “Primaris REIT Announces Appointment of Julian Schonfeldt as Chief Investment Officer”

Primaris Real Estate Investment Trust announced the appointment of Julian Schonfeldt as Chief Investment Officer (“CIO”), effective April 1, 2026. With the significant growth of Primaris’ portfolio over the past few years and an increasing set of investment opportunities in its expanded portfolio, as well as continued acquisition and disposition opportunities, the appointment of a dedicated CIO further strengthens the management team and enhances focus across the organization.