Large Platform Events | Issue 22.40

 

Summary of Transaction Headlines

IPE Real Assets | “Aviva Investors, Layetana Create €500 Million ($495 Million USD) BTR Partnership in Spain”

Aviva Investors and Layetana Living have created a build-to-rent (BTR) partnership in Spain. Aviva and Spanish developer Layetana said they have partnered to develop a residential portfolio of over €500 Million ($495 Million USD), adding that the partnership has already secured its first development project. The partnership, under the advice of global property consultancy Knight Frank, has acquired a 71-unit residential development in the Sants district of Barcelona expected to be delivered at the end of 2023.

Bisnow | “RealPage to Acquire Fifth Wall Backed Multifamily CRM Company”

Proptech company RealPage has reached an agreement to acquire Seattle-based Knock, a customer relationship management provider for the multifamily industry. With the acquisition, announced Friday and expected to close in the coming days, the companies plan to bring forth an AI-driven operating platform aimed at maximizing net operating income for multifamily owners. “Acquiring Knock accelerates our strategy to deliver a next-generation front office platform that supports centralized leasing,” RealPage CEO Dana Jones said in a release.

Connect CRE | “Lendlease Americas CEO Steps Down, to be Succeeded by 26 Year Company Veteran”

Lendlease global COO and CEO Americas Denis Hickey has decided to leave the organization after 10 years. Claire Johnston, currently managing director, Google development ventures, will assume the position of CEO Americas effective Nov. 1.  Joining the company in 2012 to lead the Australian development business, Hickey relocated to New York in 2014 to reinvigorate the company’s extensive U.S. operations. Johnston’s career with Lendlease spans 26 years, starting as a graduate in Australia.

PERE | “Brookfield Hires First COO of European Real Estate”

Brookfield Asset Management has hired a Chief Operating Officer for its European real estate business, PERE has learned.  The Toronto-based alternative asset manager has tapped Richard Powers for the newly created position. Powers, who joined last month, will report to Brad Hyler, Brookfield’s head of European real estate. Powers, who recently relocated to London, will work alongside Brookfield’s European real estate leadership team to help continue to expand the firm’s pan-European real estate business and oversee its operations. Aside from Hyler, Brookfield’s senior European real estate executives include managing directors Michael Fuller, Rohit Srivastava, Rose Meller, Ben Annable and Alexis Prevot.

The Real Deal | “Google Hires New Head of Real Estate”

Google has tapped the Royal Bank of Canada’s Scott Foster as its new head of real estate, replacing David Radcliffe, who’s stepping down from the position next month after 16 years at the helm. Radcliffe will retire at the end of the year but will stay on with the Mountain View-based search engine until then to help with the transition, he and Foster said in separate LinkedIn posts. Radcliffe told Google about his plans to leave in 2019 to spend more time with his family but decided at the start of the pandemic to stay on to help the company navigate changing business needs and Covid-induced complexities, CFO Ruth Porat said in a statement.