Large Platform Events | Issue 24.13

 

Summary of Transaction Headlines

BNN Bloomberg | “Blackstone Eyes $1.9 Billion Sale of The Office Group”

Blackstone Inc. has held informal talks with advisers over a £1.5 Billion (USD $1.9 Billion) sale of The Office Group amid a pickup in demand for flexible working space. The private equity firm is aiming for a deal in the first quarter of 2025 with a sale or stock market listing among possible options, the Telegraph reported, citing sources it didn’t identify. A Blackstone spokesperson told the newspaper that the company has no plans to exit the business in the foreseeable future and hasn’t appointed any advisers.

PERE | “PIMCO Targets €750 Million (USD $810 Million) for First Data Center Fund”

Asset management giant PIMCO is currently raising capital for its first dedicated data center fund. The firm is understood to have raised approximately €300 Million (USD $325 Million) in investor commitments so far in a first close for the Europe-focused, closed-end vehicle, against a target size of €750 Million (USD $810 Million). PIMCO declined to comment. Investments will be executed through Apto, a European data center development and operating company established by PIMCO in September 2023. Apto is wholly owned by the EDCO fund.

Bisnow | “Three Big CRE Investors Are Launching New Nontraded REITs, Eyeing Industrial Assets”

A trio of major institutional investors are zeroing in on industrial assets and forming the first nontraded real estate investment trusts this year. ElmTree Funds, Fortress Investment Group, and Morgan Stanley are in various stages of a ramp-up to sell stock in newly created REITs not linked to the larger market. All three companies’ new REITs will likely center their investments on industrial properties. 

Pensions & Investments | “Pantheon Picks First CEO”

Kathryn Leaf was named the first CEO at Pantheon, taking leadership of the private markets firm on January 1, 2025. Leaf will succeed Paul Ward, Managing Director, who will become Executive Chair, a news release said. Ward has been at Pantheon for 20 years. The leadership change is subject to standard regulatory approval.

PR Newswire | “CDPQ Announces the Appointment of Rana Ghorayeb as Executive Vice President and Head of Real Estate”

CDPQ announced the appointment of Rana Ghorayeb as Executive Vice President and Head of Real Estate. In her new role, she will be responsible for leading the overall Ivanhoe Cambridge portfolio and investment team, which has assets of over $77 Billion. Rana Ghorayeb has served as President and Chief Executive Officer of Otera Capital, a CDPQ subsidiary specializing in real estate lending, for nearly five years.

Business Wire | “Bixby Land Company Announces Four Internal Promotions and the Retirement of CFO”

Bixby Land Company, a capital management company, is pleased to announce the promotions of three talented individuals within the organization and the retirement of Martin T. O’Hea, the company’s Chief Financial Officer since 2010. Regina Schafnitz, formerly Senior Vice President, Finance & Accounting, has been promoted to the position of Chief Financial Officer. Matthew Ela, previously Executive Vice President, Operations, has been promoted to the role of Chief Operating Officer. William (Bill) DeLaney, formerly Senior Director, Operations, has been promoted to Vice President, Operations. Lindsey Olson, formerly Director of Asset Management and ESG Lead, has been promoted to Director of Investor Relations and ESG Lead.

Bisnow | “Meridian Capital Names New CEO Amid Fannie, Freddie Blacklist”

Debt brokerage giant Meridian Capital Group has replaced its CEO with a former financial regulator amid a controversy over loans it has arranged in recent years. Brian Brooks has been named Meridian Capital’s new Chairman and CEO. Brooks served as acting U.S. comptroller of the currency after holding several roles at Fannie Mae, including general counsel and corporate secretary. He also served on Fannie Mae’s Board of Directors and its risk committee.

IREI | “Gila Cohen Joins Vanbarton Group as Partner and CIO”

Vanbarton Group has appointed Gila Cohen as Partner and CIO. In her role, Cohen will be instrumental in investment decision-making and portfolio construction across the firm’s equity and credit strategies. She will provide additional leadership in the firm’s office-to-residential conversion, value-add multifamily, medical office, and structured finance strategies. Her extensive background in real estate, private equity, and private credit makes her an invaluable addition to the Vanbarton team.

Property Week | “Avison Young Promotes Rick Jenkins to Chief Financial Officer”

Global commercial real estate advisor Avison Young announces that Rick Jenkins has been named Chief Financial Officer, overseeing the firm’s financial operations and strategy. Jenkins first joined the firm in 2016 as Global Controller, responsible for directing financial reporting and processes, developing tax strategies, overseeing due diligence and integration of merger and acquisition targets, and identifying and developing talent across the finance team.

BE News | “Thakeham Appoints the Firm’s First Chief Investment Officer”

Regional housebuilder Thakeham has appointed Alastair Skinner as its first Chief Investment Officer. In the newly created role, Skinner will support the Executive and Management Teams to deliver growth and support business transformation. The position has been created to supervise and guide Thakeham’s housing and pipeline strategy. His role will also oversee decision-making on asset allocation and risk management.

IREI | “Lindsay LoBue Names COO at the Carlyle Group”

The Carlyle Group has named Lindsay LoBue as COO, succeeding Chris Fin after nearly 30 years of service at the firm, according to a LinkedIn post. She will oversee Carlyle’s operational strategy, ensuring efficiency and effectiveness across the business, and prioritizing strategic growth and client service.

IREI | “Sila Realty Trust Appoints New CIO”

Sila Realty Trust has appointed Christopher Flouhouse as Executive Vice President and CIO. Flouhouse will oversee the acquisition, investment management, property management, research, and credit divisions of the company. Flouhouse most recently served as Managing Director and Head of Real Estate, Gaming, and Lodging Equity Capital Markets at Wells Fargo Securities and has executed transactions across real estate, financial institutions, and consumer sectors during his approximately 25-year banking career.