Large Platform Events | Issue 22.42

 

Summary of Transaction Headlines

The Business Journals | “EQT Exeter Raises $3 Billion for Industrial Asset Fund”

EQT Exeter raised $3.0 Billion in equity commitments at the final close of its EQT Exeter Industrial Core-Plus Fund IV, exceeding its target size of $2.5 Billion. The vehicle seeks to invest in class A, single-tenant big box distribution, fulfillment center, last mile logistics properties and industrial service facilities.

IREI | “Wafra, Arden Group Launch $1 Billion Venture to Acquire Industrial Service Facilities”

Wafra and Arden Group have announced a venture to acquire industrial service facilities (ISF) properties located in in-fill sites across major markets in the United States. As part of the venture, the firms have closed on a portfolio of ISF properties, building an immediate presence in key growth markets, including Dallas, Houston, Atlanta, Austin and Miami. “Through this venture, Wafra continues its strategy of launching and scaling platforms in attractive niche real estate strategies where we create value through our operational expertise, global reach and deep industry networks,” said Pratik Patel, managing director at Wafra. “We recognize the importance of forming partnerships with industry leaders like Arden and ensuring meaningful alignment as the basis of shared success. This venture will allow us to build a sizeable market share within a highly fragmented sector by combining Wafra’s long-standing expertise in niche real estate strategies with Arden’s best-in-class management team.”

Property Week | “Odevo Acquires US Firm KW Property & Management Consulting (KWPMC)”

Residential property management group Odevo has acquired US firm KW Property & Management Consulting (KWPMC) for an undisclosed fee to develop a presence in the world’s largest property management market. KWPMC joins the Odevo stable, which includes UK arms Rendall & Rittner, Premier Estates and Trinity Property Group. Its addition will increase the group’s annual revenue by
£120 Million ($135 Million USD) to £270 Million ($304 Million USD). Odevo chief executive Daniel Larsson said: “I’m very pleased to welcome our new colleagues at KWPMC to Odevo and to announce our establishment in the world’s largest market.

Property Week | “Cortland Appoints Tracey Hartley as COO”

Cortland, the built-to-rent (BTR) real estate investment, development and management company, has appointed Tracey Hartley as its chief operating officer for Europe. Cortland said Hartley had joined its senior team to aid it in expanding its rental portfolio across the UK market. Prior to joining Cortland, Hartley sat on the cross-sector executive committee board at the Howard de Walden Estate, before being appointed as head of residential and JLL, where she oversaw The Crown Estate’s residential portfolio.

IPE Real Assets | “Blackstone’s Schiloff Joins Real Estate Investment Firm Fabrix as CIO”

London-based real estate investment firm Fabrix has appointed Blackstone’s Nicholas Schiloff as Chief Investment Officer and Partner to lead the firm’s investment and wealth management activities. Fabrix, which owns a real estate portfolio in London and Berlin, said Schiloff will help oversee investment and wealth management activities, as well as raising and structuring equity and debt capital for the company’s ongoing business initiatives.

Property Week | “Debbie Lee Promoted to CFO at Grosvenor’s UK Business”

Debbie Lee has been appointed as chief financial officer (CFO) at Grosvenor’s UK property (GPUK) business following the departure of Roger Blundell after 15 years with the company. Debbie Lee will become the seventh female member of GPUK’s eight-strong executive team. Lee’s promotion means seven of the eight members of GPUK’s executive team are now women, with chief executive James Raynor the only man remaining.