6.29.23 | This week we recognized 2 capital-related transactions with a disclosed value of $5.4 Billion USD.
| Deal Size (Bn USD) | Capital Related Transactions |
| $3.1 | Prologis to Acquire 14 Million Square Feet Blackstone Industrial Portfolio in $3.1 Billion Deal |
| $2.3 | Oaktree is Betting on Life Sciences With $2.3 Billion Fundraise |
| $5.4 | Total |
Additionally, we recognized 3 leadership changes within the industry.
- Holland Partner Group Appoints Steve LeBlanc as CIO
- Realty Income Announces Transition of Chief Financial Officer Role
- Harbor Group International Names Matt Jones as Chief Investment Officer – Credit Investments
Summary of Transaction Headlines
PR Newswire | “Prologis to Acquire 14 Million Square Feet Blackstone Industrial Portfolio in $3.1 Billion Deal”
Prologis, Inc. (NYSE: PLD) and Blackstone (NYSE: BX) announced a definitive agreement for Prologis to acquire nearly 14 Million Square Feet of industrial properties from opportunistic real estate funds affiliated with Blackstone for $3.1 Billion, funded by cash. The acquisition price represents an approximately 4% cap rate in the first year and a 5.75% cap rate when adjusting to today’s market rents.
Bloomberg | “Oaktree is Betting on Life Sciences With $2.3 Billion Fundraise”
Oaktree Capital Management has raised more than $2.3 Billion for its first private credit fund dedicated to life sciences companies, according to a statement seen by Bloomberg. The Oaktree Life Sciences Lending Fund will lend directly to biopharmaceutical and medical device companies across the globe, focusing on firms that have strong intellectual property or late-stage assets targeting difficult-to-treat medical conditions.
IREI | “Holland Partner Group Appoints Steve LeBlanc as CIO”
Steve LeBlanc appointed as CIO. He will also serve on Holland Holdings Board of Directors. From 2012 to 2019, LeBlanc was a founding partner and senior advisor to CapRidge Partners, a fully integrated real estate and private equity operating company focused on value investments in commercial properties within U.S. growth markets.
PR Newswire | “Realty Income Announces Transition of Chief Financial Officer Role”
Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company, is pleased to announce the transition of its Chief Financial Officer (CFO) and Treasurer roles from Christie Kelly to Jonathan Pong, currently the company’s Head of Corporate Finance, effective January 1, 2024. The decision to appoint Mr. Pong as the new CFO comes as Ms. Kelly has decided to retire at the end of the year and follows a planned succession process. He will report to Realty Income’s President and CEO, Sumit Roy.
PR Newswire | “Harbor Group International Names Matt Jones as Chief Investment Officer – Credit Investments”
Harbor Group International, LLC (“HGI”), a privately owned international real estate investment and management firm, announced the appointment of Matt Jones, CFA, to Chief Investment Officer Credit Investments. In the newly created role, he will lead the Credit Investment team, spearheading strategy, sourcing investment opportunities, managing the due diligence process, sourcing financing relationships and closing transactions.
