Large Platform Events | Issue 24.2

 

Summary of Transaction Headlines

Business Wire | “Vantage Data Centers Announces $6.4 Billion Equity Investment Led by DigitalBridge and Silver Lake”

Vantage Data Centers, a leading global provider of hyperscale data center campuses, announced a $6.4 Billion equity investment led by investment vehicles managed by DigitalBridge Group, Inc. (“DigitalBridge”), the leading global alternative asset manager dedicated to investing in digital infrastructure, and Silver Lake, the global leader in technology investing. The investment, across North America and EMEA, is incremental to the recently announced €1.5 Billion to be invested by AustralianSuper in Vantage EMEA and includes expected investment from DigitalBridge and Silver Lake co-investors. These investments accelerate and extend Vantage’s strategic capabilities across North America and EMEA to partner with global hyperscalers to meet unprecedented cloud and AI demand.

DatacenterDynamics | “Brookfield Agrees $2.5 Billion Deal to Acquire American Tower India”

American Tower Corporation (ATC) has agreed to sell its operations in India for INR 210 Billion ($2.5 Billion) to Brookfield Asset Management. Data Infrastructure Trust (DIT), an infrastructure investment trust sponsored by an affiliate of Canada’s Brookfield Asset Management, has signed a definitive agreement with ATC to acquire 100 percent of the equity interests in American Tower’s operations in India (ATC India). The deal is expected to close in the second half of 2024 but is subject to customary closing conditions, including government and regulatory approvals.

Business Wire | “Inland Acquiring Majority Interest in Devon Self Storage Business”

The Inland Real Estate Group of Companies, Inc., one of the nation’s largest commercial real estate and finance groups, announced an agreement for Inland to purchase a majority interest in the business of Devon Self Storage Holdings (US) LLC (“Devon”), one of the largest privately owned national self-storage operators. Currently, Devon manages 202 properties and approximately 109,000 units nationally. Founded in 1988 by Ken Nitzberg, Devon has established itself as a leader and pioneer in the self-storage industry, having owned, managed, or developed over its history more than 350 self-storage facilities in 27 states and three European countries.

IREI | “Sabra Health Care REIT Appoints Jessica Flores as Chief Accounting Officer”

Jessica Flores has been appointed Executive Vice President and Chief Accounting Officer at Sabra Health Care REIT. Flores currently serves as Sabra’s Senior Vice President of Finance and Controller, a position she has held since January 2022. Flores joined Sabra in March 2011 and held various leadership positions overseeing Sabra’s accounting during that time. Flores has more than five years of experience in accounting, finance, and real estate investments, having previously worked for KBS Realty Advisors and Deloitte & Touche LLP.

IREI | “BGO Names its Canadian CIO, Christina Lacoucci, the New Head of Canada for the Firm”

BGO has named Christina Lacoucci, currently its Canadian CIO, as the firm’s Head of Canadian Operations. She will lead the company’s entire Canadian operations. In her role as Head of Canada at BGO, Lacoucci will continue to lead the company’s investment management activities in Canada while expanding her responsibilities to the company’s property management and leasing services in Canada, which comprise more than 400 properties and 62 Million Square Feet across the country.

BNN Bloomberg | “Blackstone Names Co-CIOs, Elevates New Head of Real Estate”

Blackstone Inc. is elevating a new leader for its real estate business and naming two Investment Chiefs atop the firm to tighten coordination. Nadeem Meghji was named Co-Head of Blackstone’s $330 Billion real estate business alongside Kathleen McCarthy, who has already been in that role, according to a firm statement. Ken Caplan, who has Co-Headed real estate, will become Co-Chief Investment Officer. The firm promoted Caplan and Lionel Assant, who will keep running its European private equity business, to the role.