Summary of Transaction Headlines

Bisnow | “Camden Reportedly Looking to Exit California With $1.5 Billion Portfolio Sale”

Camden Property Trust has put its 11 multifamily properties in California up for sale. The Houston-based REIT is marketing all its assets via JLL. The properties could be worth more than $1.5 Billion. Camden is a large multifamily landlord, developer and property manager with 177 apartment communities totaling more than 60,000 units across 15 markets, primarily in the Sun Belt, with additional presence in California and Washington, D.C.

Nashville Business Journal | “GBT Realty Returns to its Roots, Launching $1.3 Billion in New Developments”

Brentwood, Tennessee-based GBT Realty Corp. plans to deploy $1.3 Billion to develop build-to-suit retail properties and acquire shopping centers over the next year and a half. The company, which has $1 Billion of assets under management, says it hopes to exceed $3 Billion in AUM with the deployment. GBT’s release says the company plans to start construction on 33 projects over the next 18 months and has hired 12 employees in its land acquisition, new development and leasing verticals.

Commercial Observer | “Brookfield to Acquire Industrial REIT Peakstone for $1.2 Billion”

Brookfield Asset Management has reached an agreement to acquire a major real estate investment trust (REIT) focused on industrial properties in the U.S. California-based REIT Peakstone Realty Trust agreed to an approximately $1.2 Billion deal, equivalent to $21 per share, to merge with Brookfield, according to an announcement from Brookfield. This acquisition is an exciting opportunity to expand Brookfield’s industrial real estate platform with Peakstone’s high-quality and well-diversified portfolio, which will benefit from strong long-term fundamentals for the warehouse and IOS sectors.

Commercial Observer | “StorageMart Builds on Expanding NYC Portfolio With $1 Billion Acquisition”

StorageMart, parent company of Manhattan Mini Storage, has acquired 15 New York City self-storage facilities in a deal valued at roughly $1 Billion. The Carlyle Group sold the properties, which include 72 Caton Place in the Windsor Terrace section of Brooklyn. StorageMart is calling the sale the second largest self-storage deal in New York City’s history, after its own 2021 purchase of Manhattan Mini Storage in 2021 involving 18 facilities.

IREI | “Andrew Yam, Jessica Wichser Join American Landmark in New Senior Leadership Roles”

American Landmark Apartments has named Andrew Yam as Senior Managing Director and Global Head of Capital Markets, along with Jessica Wichser as Senior Executive Portfolio Manager. Both roles are based in New York and strengthen the firm’s senior leadership team as it continues to deepen its commitment to institutional investors. Wichser joins American Landmark as Senior Executive Portfolio Manager, where she is responsible for overseeing portfolio performance and strategy across the firm’s multifamily investment entities. Wichser is a member of the firm’s investment committee.

IREI | “Blue Vista Appoints Andrew Schaffler and Justin Yagerman as Managing Directors – BTR”

Blue Vista Capital Management has announced the appointments of Andrew Schaffler and Justin Yagerman as Managing Directors – Build-to-Rent (BTR). Schaffler will be head of Blue Vista’s BTR strategy, leading acquisition and investment activities, including sourcing, structuring, underwriting, and executing transactions. In this capacity, he will be responsible for the development and management of BTR investment strategy, investment sourcing, and portfolio management. Schaffler brings significant experience in the structuring and acquisition of private and public investments of all property types and operating partnerships.

Connect CRE | “Jeffrey Berkes Joins Paragon Commercial as CIO”

Paragon Commercial Group, a leading retail investment and development firm, has appointed Jeffrey S. Berkes as CIO. Berkes brings more than 30 years of retail industry experience, including 24 years of transformative leadership at Federal Realty Investment Trust, where he served as President & COO and was instrumental in the company’s emergence as one of the nation’s largest and top-performing retail REITs.

IREI | “11North Partners Appoints Ekta Patel as COO”

Ekta Patel has been appointed COO at 11North Partners. Based in the firm’s New York office, Patel will oversee firmwide operations, coordination across asset management, and platform infrastructure, supporting the firm’s existing portfolio while enabling future growth initiatives. She joins 11North from Bain Capital Real Estate, where she played a significant role in charting the joint venture’s strategy and in its first investments.

IREI | “Jitka Steinmetz Joins Manova Partners as New COO”

Manova Partners has named Jitka Steinmetz as its new COO, further expanding its management team. The decision comes in response to the growing complexity of the market environment and increased need for efficient operational real estate and investment management. In her new role, Steinmetz will handle the company’s operational business. Jitka Steinmetz holds more than more than15 years of international experience in senior operational and management positions.

PERE  | “L&G Names Global Co-Heads of Real Assets, Bolstering its Global Ambitions”

Legal & General has appointed Tim Morris and Philipp Westermann to the newly created roles of Global Co-Heads of Real Assets effective April 1, reflecting the London-based pension and insurance giant’s broader aim of scaling its private markets platform outside of the UK. These appointments come after L&G took stakes in two US-based real estate firms, seeking to make its business more global.

Business Wire | “Link Logistics Announces Leadership Changes to Drive Continued Growth”

Link Logistics, a leading operator of last-mile logistics real estate and warehouse properties, announced strategic leadership changes to advance the company’s long-term growth trajectory: Glenn Wylie has been promoted to Executive Vice President, Head of Asset Management, where he will oversee industrial leasing, property management, and construction management across all of Link Logistics’ U.S. regions. Wylie previously led the company’s East region. Jack Hennessey will transition to the newly created role of Senior Managing Director, Industrial Outdoor Storage, overseeing Link Logistics’ growing portfolio in this asset class in partnership with the company’s joint venture with Transport Properties, a firm specializing in developing and enhancing properties for trucks, trailers, buses, construction, and materials storage.