Large Platform Events | Issue 23.29

 

Summary of Transaction Headlines

IPE Real Assets | “SC Capital, ADIA and Goldman Sachs Buy $900 Million Hotel Portfolio in Japan”

Singapore-headquartered SC Capital Partners, the Abu Dhabi Investment Authority (ADIA) and Goldman Sachs Asset Management have formed a consortium to purchase a US$900 Million (€801 Million) hotel portfolio in Japan from Daiwa House Industry. The portfolio of 27 resort hotels, offering a total of 7,124 rooms, is spread across Japan in major tourist destinations. Japan Hotel REIT Advisors (JHRA), a company majority-owned by the SC Capital Partners, a specialist in local hotel asset management and operations in Japan, would play an integral role in capturing the recovery and maximising further growth of the portfolio, the partners said.

Commercial Property Executive | “Lincoln, Paragon Form Retail Investment JV”

Lincoln Property Co. has formed a joint venture with El Segundo, Calif.-based Paragon Commercial Group to focus on institutional quality assets and accelerate its West Coast retail investment management strategy. Under the agreement, Paragon will also serve as Lincoln’s West Coast retail operator. Paragon Co-Founder Jim Dillavou, who has also taken on the role of Lincoln’s National Head of Retail Real Estate Investments & Retail Capital Markets, told Commercial Property Executive necessity retail, including grocery-anchored centers, will be the growth driver on the investment side.

Reuters | “Ares Management to Buy Singapore Private Equity Firm Crescent Point Capital”

U.S-based alternative investment group Ares Management Corp has agreed to fully acquire Singapore-headquartered private equity firm Crescent Point Capital, according to a statement on Tuesday. “We believe that CPC is an excellent platform that will further enhance our footprint and capabilities in the region,” said Ares CEO and President Michael Arougheti. Ares did not disclose the value of the deal but said the transaction offered an opportunity for it to capitalise on the growth prospects for dedicated Asia-Pacific private equity strategies.

IREI | “Summit Healthcare REIT Names New CEO and CFO”

Summit Healthcare REIT has promoted Elizabeth Pagliarini to the position of CEO and Sharyn Grant to the position of CFO. Pagliarini has been CFO of Summit since September 2014 and added the title of COO in August 2019. She is an innovative, strategic and visionary leader who brings a breadth of experience and wealth of knowledge to the office of the CEO. Grant, who is a certified public accountant, has held the position of controller since she joined Summit in January 2015.

GlobeNewswire | “Greystone Promotes Eric Welby to Chief Financial Officer”

Greystone, a leading national commercial real estate finance company, announced that Eric Welby has been promoted to Chief Financial Officer. A 16-year company veteran, Mr. Welby has deep knowledge of Greystone’s broad lending, servicing, and investment businesses, and will serve an integral role in continuing the growth of the firm’s conventional and alternative financing platforms. In his prior roles at Greystone as Deputy Chief Financial Officer and Chief Accounting Officer, Mr. Welby was instrumental in managing and maintaining sound accounting practices at the firm, instilling confidence and transparency in Greystone’s financial reporting, leveraging technology to increase the efficiency of the department, and promoting innovation to evolve how to partner with and support a complex, entrepreneurial financial organization such as Greystone.

Business Wire | “Lincoln Property Company Appoints Chief Financial and Operating Officer”

Lincoln Property Company (“Lincoln”), a global, full-service real estate firm, today announced that Daniel Roth has joined the company as Chief Financial Officer and Chief Operating Officer. In this key executive leadership role, Mr. Roth will oversee Lincoln’s financial strategy and operations management, including technology and growth enablers. Mr. Roth’s appointment to Lincoln’s Executive Leadership team is part of the company’s next-generation growth plan led by Clay Duvall and David Binswanger who were elevated to Co-CEOs in February 2023.

IREI | “Julian Carey Promoted to CEO of Industrials REIT”

Julian Carey, current Managing Director, has been promoted to CEO at Industrials REIT. The promotion follows the decision by Paul Arenson, Industrials REIT’s current CEO and Founder of the business, to step away from the day-to-day running of the company to focus on his other business interests while remaining as a senior strategic adviser to the business. Julian Carey joined Industrials REIT in July 2017 when C2 Capital, the specialist MLI Fund Manager he founded in 2009, was acquired by the company.