Large Platform Events | Issue 23.25

 

Summary of Transaction Headlines

Bisnow | “Bell Partners Raises $1.3 Billion For Value-Add Multifamily Fund”

Multifamily investment specialist Bell Partners has closed on a fund that will give it the ability to acquire roughly $3.2 Billion of properties across the country. The North Carolina-based firm closed its Value-Add Fund VIII at $1.3 Billion, above its target of $1 Billion, it said in a press release. Investors include domestic and international entities, many of whom put money into the company’s previous funds, according to the release.

Reuters | “Allied to Sell UDC Portfolio to KDDI Corp for C$1.35 Billion ($1.02 Billion USD)”

Allied Properties Real Estate Investment Trust entered into an agreement to sell its urban datacenter portfolio to Japanese telecommunications provider KDDI Corporation (9433.T) for C$1.35 Billion ($1.02 Billion). The portfolio comprises Toronto’s 151 Front Street West and 905 King Street West, along with a leasehold interest in 250 Front Street West.

The Deal | “Brookfield, Ontario Teachers to Acquire Compass Datacenters”

Brookfield Infrastructure Partners LP (BIP) and its institutional partners, along with existing investor Ontario Teachers Pension Plan, on Tuesday, June 20, announced that they have agreed to acquire Compass Datacenters LLC from RedBird Capital Partners LLC and Azrieli Group Ltd. Brookfield Infrastructure, a Hamilton, Bermuda-based asset management company, and Toronto-based investment firm Ontario Teachers did not disclose the terms of the transaction.

CRE Herald | “Stephanie Hyde Appointed as JLL CEO, EMEA Markets Advisory”

Global real estate consulting firm JLL has appointed Stephanie Hyde as its new CEO, EMEA Markets Advisory. Stephanie Hyde, currently UK CEO and Cluster Leader, Northern Europe, will expand her role to be CEO, Markets Advisory, EMEA alongside her UK CEO role, effective 1 July.