Summary of Transaction Headlines

IREI | “First Capital REIT Agrees to be Acquired by KingSett Capital and Choice Properties REIT in $6.9 Billion Transaction”

KingSett Capital, on behalf of KingSett Real Estate Growth LP No. 8 and other investors, and Choice Properties REIT announced that they have agreed to acquire First Capital REIT in a unit and cash transaction valued at approximately C$9.4 Billion ($6.9 Billion USD, including the assumption of certain debt. Upon close of the transaction, Choice Properties will acquire approximately C$5 Billion ($3.6 Billion USD) of high-quality retail assets from First Capital. KingSett will acquire approximately C$4.4 Billion ($3.2 Billion USD) of First Capital assets and all of First Capital’s issued and outstanding units.

IREI | “Whitestone REIT is Being Acquired by Ares Management in a $1.7 Billion All-cash Take Private Deal”

Whitestone REIT has agreed to be acquired by Ares Management Corp. in an all-cash transaction valued at approximately $1.7 Billion. Whitestone’s portfolio as of March 31, 2026, comprises 56 high-quality, convenience-focused retail properties totaling approximately 4.9 Million Square Feet in some of the country’s fastest growing markets including Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio. “We believe Whitestone has shown the value of high-return smaller spaces occupied by a well-diversified mix of tenants,” said Dave Holeman, CEO of Whitestone.

 

IPE Real Assets | “Arizona State Retirement System Sets $2.3 Billion Real Estate Pacing Plan”

Arizona State Retirement System (ASRS) has created a $2.3 Billion real estate pacing plan for the 2026 calendar year, according to the pension fund’s board meeting document. Under its 2026 pacing plan, ASRS plans to commit $1.3 Billion to new investment opportunities and direct $1 Billion in recycled capital to its established managers. The $60 Billion pension fund expects that this capital deployment will allow it to keep pace with total fund growth while maintaining its long-term 15% target allocation to real estate.

PERE | “La Caisse, Prologis form €1 ($1.2 Billion USD) Billion European Logistics Venture”

La Caisse and Prologis, Inc. (NYSE: PLD) announced an agreement to establish a pan-European logistics joint venture with approximately €1 Billion ($1.2 Billion USD) in seed assets. The $131 Billion logistics giant, a prominent player in the Industrial REITs industry, has seen its stock surge nearly 45% over the past year to $137.41, trading near its 52-week high. The platform, named Prologis Logistics Investment Venture Europe (PLIVE), will focus on acquiring, developing and operating logistics properties across Europe.

IPE Real Assets | “Goodman Group and DataBank form $1 Billion US Data Centres Joint Venture”

Goodman Group and DataBank, a leading provider of cloud and connectivity services, have formed a $1 Billion 50:50 joint venture to develop data centers in the US. Its initial project, located in Vernon with a total capacity of 32 Megawatt, is expected to open in December 2026 with the first 6 Megawatt available and the remaining 26 Megawatt coming online in stages through to September 2027. The site adds to DataBank’s existing development pipeline of more than 850 Megawatt across major US markets including Dallas, New York, Atlanta, Kansas City, Houston and Northern Virginia.

Property Week | “Get Living Names Kate Freer as New CEO”

Get Living has appointed Kate Freer as its new Chief Executive, replacing the firm’s long-standing Chief Executive Rick de Blaby, who is retiring to pursue a Non-Executive career. Freer is a real estate veteran with more than 25 years in the sector, most recently serving as Realstar’s Executive Vice-President Investments (UK). She spent 11 years at the firm, helping growing its UK multifamily platform and Uncle brand from the ground up to 28 assets with a GDV of £2.6 Billion ($3.5 Billion USD).

Property Week | “Vistry Appoints Adam Daniels CEO as Successor to Greg Fitzgerald”

Housebuilding giant Vistry has promoted Adam Daniels to Chief Executive and Executive Director of Vistry with immediate effect, replacing outgoing Chief Executive Greg Fitzgerald. Daniels current role was Executive Chair of one of Vistry’s operating divisions and he is already a Member of the Group’s Executive leadership team. Fitzgerald announced his retirement in March after joining Vistry in 2017. He has now officially stepped from both his roles as Chief Executive and Executive Chair, with Independent Director Rob Woodward taking over the latter.

Business Wire | “MetLife Investment Management Names Andrea Drasites Head of Real Estate and Agricultural Finance”

MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), announced that Andrea Drasites will join the company as Global Head of Real Estate and Agricultural Finance, effective Oct. 1, 2026. She will report to Brian Funk, President of MIM. “We are excited to bring on board Andrea’s significant expertise in real estate and extensive leadership experience,” said Funk. “She is well positioned to lead our real estate team as we continue to accelerate growth and further scale our global capabilities for clients following the acquisition of PineBridge Investments.”

Mingtiandi | “Blackstone Taps Taro Squires to Lead Australia Real Estate, Succeeding Chris Tynan”

Blackstone has appointed Taro Squires as Head of Real Estate for Australia, replacing Chris Tynan, the former Morgan Stanley Executive who joined the US private equity giant in 2016 to build out its local property platform. Squires is due to take on the role from 1 July, relocating from Japan where he has spent much of his career. Tynan will remain with Blackstone in a senior advisory capacity through at least the end of the year.