Large Platform Events | Issue 24.24

 

Summary of Transaction Headlines

Bisnow | “Amazon Commits Another $1.4 Billion to Affordable Housing Fund”

Amazon has refilled its multibillion-dollar Housing Equity Fund with an infusion of money that it projects will preserve and create an additional 14,000 affordable housing units. The e-commerce giant committed to adding another $1.4 Billion to its affordable housing fund, bringing the total fund size to more than $3.6 Billion, Amazon announced. Amazon launched it as a $2 Billion fund in January 2021 with the goal of preserving and creating 20,000 housing units.

IPE Real Assets | “BlackRock Takes Majority Stake in Mainova’s German Data Center Business”

BlackRock is acquiring 50.1% of a German data center development and operating company owned by German utility company The Mainova Group. BlackRock, investing on behalf of a fund managed by its diversified infrastructure business, has acquired an interest in digital infrastructure company Mainova WebHouse for an unspecified amount.

IPE Real Assets | “Patria Expands Colombia Real Estate Presence with Nexus Capital Purchase”

Patria Investments, having established a presence in Colombia’s real estate market late last year, has acquired Nexus Capital, a local asset manager overseeing roughly $800 Million in assets. The global alternative asset manager said it has agreed to buy Nexus in a deal that would lift Patria’s real estate assets under management (AUM) in Colombia to over $2.2 Billion.

IREI | “Prime Group Acquires Three Self Storage Portfolios Comprised of 30 Properties Across 10 States”

Prime Group Holdings has acquired 30 self-storage properties comprising about 1.725 Million Rentable Square Feet across 10 states. The properties were acquired in three separate portfolio transactions that took place in a span of less than 90 days, all on behalf of the firm’s flagship investment vehicle, Prime Storage Fund III, LP. 

Bisnow | “Hoffman & Associates Names JLL Executive as CEO”

The co-developer of the D.C. megaproject The Wharf has hired a new CEO from a top brokerage firm as it expands through the Southeast region. Brian Dawson is taking the helm at Hoffman & Associates, a D.C.-based development company with a $6 Billion portfolio. He replaces Mark Dorigan, who took over for Founder and Chairman Monty Hoffman at the end of 2019. Dorigan will stay on as a member of the firm’s Investment Committee Board.

Business Wire | “Inland Appoints Cathleen M. Hrtanek as Chief Operating Officer”

The Inland Real Estate Group, LLC (“Inland”), one of the nation’s largest commercial real estate and finance groups, announced the appointment of Cathleen “Cassie” M. Hrtanek to Chief Operating Officer. In this role, Ms. Hrtanek is responsible for Inland’s human resources, information technology, risk management, communications, marketing, and purchasing. Additionally, Ms. Hrtanek will continue to serve as the corporate secretary of many Inland member companies, primarily those involved in the syndication of real estate-related securities, and is an active Board Member of various Inland member companies. She will report to Tony Chereso, Chief Executive Officer and President of Inland.

GlobeNewswire | “Colliers CEO of the UK and Ireland Announces Decision to Retire from Role in 2025”

Leading diversified professional services and investment management company Colliers (NASDAQ and TSX: CIGI) announced that Tony Horrell, CEO of the United Kingdom and Ireland, has decided to retire from his role as CEO in 2025. Tony’s decision follows his 42-year career in real estate as a capital markets expert and business leader. Since joining Colliers in 2010, Tony has significantly expanded the business in the UK and Ireland to create a top-tier player of over 1,000 employees with a diversified offer across transactional and advisory services. He has consistently developed the organization through organic growth and acquisitions, focusing on the needs of clients in response to evolving real estate trends during several economic cycles.