Large Platform Events | Issue 24.23

 

Summary of Transaction Headlines

Property Week | “Crown Estate Kicks Off £1.5 Billion ($1.9 Billion USD) Science Drive With Oxford Lab Scheme”

The Crown Estate has revealed a new partnership that will invest up to £1.5 Billion ($1.9 Billion USD) into the science and tech sectors, starting with the transformation of Oxford’s former Debenhams store into a circa 100,000 Sq Ft life sciences space. Marking the King’s property company’s entry into the life science sector, the firm has formed a partnership with Oxford Science Enterprises (OSE) and Pioneer Group to provide vital lab space in the Oxfordshire region.

Bisnow | “Brookfield Prepares Takeover Bid for £1.2 Billion ($1.53 Billion USD) Logistics Firm Management Company”

Private equity giant Brookfield is analyzing a bid for a London-listed European logistics owner with a portfolio valued at £1.2 Billion ($1.53 Billion USD). Brookfield Asset Management said it was in the early stages of preparing an all-cash offer for Tritax EuroBox. Tritax EuroBox said it had not yet received a bid.

Bisnow | “MCB Offers $700 Million to Acquire Whitestone REIT”

MCB Real Estate has offered to purchase shopping center landlord Whitestone REIT in a deal valued at $700 Million, according to public filings. Real estate investment firm MCB is offering an all-cash deal that values the real estate investment trust sale at $14 per share, a 7.2% premium to the closing price of $13.06. MCB owns a more than 9% stake in Whitestone, the filing shows. 

IPE Real Assets | “Arrow Global Buys German Real Estate Developer Interboden”

Arrow Global is strengthening its servicing offering in Germany by acquiring a local real estate developer in a deal expected to help the firm’s regional expansion in servicing and equity investments. Through its German business, the alternative asset manager, specializing in credit and real estate, has invested an unspecified amount to acquire the operating platform and assets of Interboden, a company founded in 1950.

The Business Journals | “Boyd Watterson’s Size to Double With ‘Strategic Combination’ With Amber Infrastructure”

A strategic combination will create a leading global alternative investment platform, nearly doubling assets under management and providing scale to better serve a global client base. Boyd Watterson Asset Management, LLC (“Boyd Watterson”) and Amber Infrastructure Group Holdings Limited (“Amber”) jointly announced that the businesses will come together under a common parent company to create a global diversified real estate, infrastructure, and fixed income asset management platform.

IREI | “CEO and Executive Director of Mapletree Industrial Trust’s Manager to Step Down”

Tham Kuo Wei, CEO and Executive Director of Mapletree Industrial Trust’s manager, has plans to step down, according to an announcement. He will transfer to Mapletree Investments to assume new responsibilities with the Temasek Holdings-controlled sponsor. Tham has served as CEO for 13 years. Succeeding Tham in both posts is Lily Ler, who has served as CFO at MIT since 2011.

Property Week | “Apache Capital Creates a New Role of CFO”

Real estate investment management firm Apache Capital has appointed Scott Berry to the newly created role of Chief Finance Officer (CFO). Berry joins after almost six years at Watkin Jones and its third-party operational management business, Fresh Property Group, where he was Commercial Finance Director. Across both roles, he was responsible for the management of more than 20,000 units across the build-to-rent (BTR) and student accommodation sectors.

Housing Today | “Weston Homes Appoints New Chief Executive”

Weston Homes has announced the promotion of its Group Operations Director, Peter Gore, to the role of Chief Executive. He will work closely with Chair Bob Weston and the Board of Directors. Gore joined Weston Homes in 2021 from Taylor Wimpey, where he had worked for three years as Managing Director.

IREI | “Alison Brown Joins Bridge Investment Group”

Alison Brown has joined Bridge Investment Group Holdings as President of Bridge Property Management and Deputy CIO for Bridge’s workforce and affordable housing strategy, effective July 1, 2024. Brown brings more than 25 years of real estate experience and a proven track record of building and supporting successful teams.