Large Platform Events | Issue 23.11

 

Summary of Transaction Headlines

CRE Herald | “Redevco Creates European Retail Warehouse Park Platform with €4.5 Billion ($4.8 Billion USD) AUM”

European real estate urban regeneration specialist Redevco has established a retail warehouse park (RWHP) asset management platform in Europe with assets under management (AUM) of €4.5 Billion ($4.8 Billion USD) following the acquisition of Redos last year. The platform was created by combining the properties of Germany’s Redos with its existing retail parks, mainly in Belgium.

Property Week | “BentallGreenOak Completes £1.4 Billion ($1.7 Billion USD) Funding Round”

Real estate investment management advisor BentallGreenOak (BGO) has completed its third UK secured lending fund, with a total of £1.4 Billion ($1.7 Billion USD) in commitments from over 25 global institutional investors. The fund surpassed its initial target of £1 Billion, which BGO said makes it one of the largest European fundraises for a debt strategy entirely focused on the UK. This is the firm’s third fund for UK secured lending and the sixth fund in its broader European debt strategy, which has invested over $5 Billion (USD) to date. BGO said its strategy is to provide direct lending across a range of real estate asset classes, including office, logistics, and multi-family residential property, driven by lending on transitional assets where the loan supports the sponsor’s business plan to create value.

PR Newswire | “Newmark Acquires Top UK Based Real Estate Advisory Firm Gerald Eve”

Newmark Group, Inc, a leading full-service commercial real estate services business, today announced that it has acquired London-based real estate advisory firm, Gerald Eve LLP (“Gerald Eve”). Gerald Eve operates from nine UK offices across multiple business lines and property types, with particular strength in capital markets, corporate real estate advisory, planning and development, tenant representation, landlord leasing and valuation. The transaction provides Newmark with added depth and breadth of services, augmenting its expansion internationally, including recent acquisitions of investment sales and leasing advisory firms BH2 and Harper Dennis Hobbs, and Paris-based flexible office operator Deskeo. With the acquisition of Gerald Eve, Newmark is positioned to be a market leader in office, logistics and retail in the UK and Europe. Furthermore, with Doug Harmon and Adam Spies recently joining Robert Griffin and Kevin Shannon as Co-Heads of Newmark’s U.S. Capital Markets business, the Company is well positioned to expand its capital markets business outside of the U.S.

Property Week | ”MAPP Appoints Bonham as CEO”

Real estate consultancy MAPP has appointed Louise Bonham as its chief executive officer, a role she will take up in September. Bonham brings a wealth of experience to the role, working as a non-executive director and audit chair designate at Milton UK Microcap Trust. She has also worked as a co-head of Cushman & Wakefield’s EMEA asset services business and chief operating officer of advisory and transaction services, EMEA, at CBRE.

GlobeNewswire | “Empire Communities Hires New Chief Financial Officer”

Empire Communities, one of North America’s largest privately held homebuilders, is pleased to announce the appointment of Rami Jurdi as the new Chief Financial Officer. With a career spanning over 17 years in the asset management industry, Rami has held progressive leadership roles at Brookfield Asset Management in all aspects of finance including mergers and acquisitions, asset management, capital markets and treasury. Rami was most recently a Managing Director of corporate finance overseeing global corporate reporting, financial planning & analysis, business planning, investor relations and valuations at Brookfield Renewable Partners, a publicly listed pure-play renewable power business with over $50 Billion in assets. Rami’s expertise ranges from building and leading high-performing teams to source large-scale capital from both the private and public markets

IREI | “CalPERS Names Daniel Booth Deputy Chief Investment Officer for Private Markets”

CalPERS has appointed Daniel Booth as Deputy Chief Investment Officer (DCIO) for Private Markets. The newly created position is responsible for all private market investment strategies, including asset allocation. Booth will work closely with Chief Investment Officer (CIO) Nicole Mussico, and the CalPERS Investment Office’s managing investment directors to lead investment decision-making in the Private Equity, Real Assets, and Private Debt asset classes.