Large Platform Events | Issue 24.48

 

Summary of Transaction Headlines

Commercial Property Executive | “Cologix Plans $7 Billion Data Center Campus”

Cologix has acquired land from Johnstown Land Co. in Johnstown, Ohio, to develop a new, AI-ready data center campus. The first phase of development is anticipated to begin in 2025. The expansion, part of a $7 Billion investment, marks the network-neutral interconnection and hyperscale edge data center company’s continued presence in Central Ohio’s digital infrastructure.

Bisnow | “Blackstone Acquires Stake of $1 Billion Santander Digital Infrastructure Loan Portfolio”

A unit within Blackstone’s Infrastructure and Asset-Based Credit arm has snapped up interests in a $1 Billion digital infrastructure loan portfolio owned by Santander. The portfolio is made up of loans that finance data centers, transportation, and renewable assets across the U.S. and Western Europe. The companies did not release how big Blackstone’s stake is. Blackstone’s Credit & Insurance unit manages $80 Billion in assets and invests in digital and energy transition infrastructure. The deal is in line with the unit’s plan to increase European investment activity, Jacob Nowack, the unit’s Managing Director, said in a statement.

Bisnow | “Brookfield Buys $845 Million Multifamily Portfolio from BREIT”

Brookfield Properties joined a wave of investors banking on an impending resurgence in apartment demand with an $845 Million purchase of multifamily properties in Nevada, North Carolina, Arizona, and Ohio. The company picked up the eight-property portfolio from Blackstone REIT earlier this month. Four of the properties are in Las Vegas, while the remaining four are in Phoenix; Columbus, Ohio; and Charlotte and Chapel Hill, North Carolina. 

IPE Real Assets | “EQT Exeter to Acquire More than 1 Million Sq. Ft. of Prime Logistics Assets in California”

EQT Exeter’s Value Fund VI has acquired two state-of-the-art bulk distribution buildings in the heart of the US’s Napa Valley’s Wine Country. EQT Exeter said the deal reflected its “commitment to acquiring and enhancing high-caliber industrial buildings in top-tier logistics hubs”. Spanning over 1 Million Sq. Ft., the properties combine best-in-class building specifications with a premier location, with connectivity to the major metros of San Francisco, Sacramento, and San Jose, as well as the entirety of the western US. Purposefully designed to support Northern California’s thriving food and beverage industry, these bulk distribution properties offer proximity to the region’s consumer base and production hubs and feature advanced building and site designs that accommodate both traditional logistics users and specialized operators.

Housing Today | “L&Q Puts £58 Million ($73.4 Million USD) Turnover PRS Company up for Sale”

Housing association seeks buyer for loss-making 3,000-home subsidiary as it prioritizes its ‘core purpose.’ L&Q is seeking a buyer for its commercial private rented business as part of a strategy to prioritize its “core purpose” as a social housing provider. The 109,000-home provider has announced that it is seeking a buyer for its subsidiary L&Q PRS Co, which trades under the brand name Metra Living.

BE News | “Nido Living Appoints New Chief Investment and Development Officer”

Nido Living has appointed Taco van Heusden as Chief Investment and Development Officer to drive the company’s strategic expansion into new European markets. Since January 2024, van Heusden has served as Nido Living’s Interim Chief Transition Officer. Prior to joining Nido Living, he held numerous senior roles across real estate, finance, and hospitality, including Chief Investment Officer at Aldau Development, Real Estate Principal at Urbanist Group, and Managing Director of Real Estate at Hanson Asset Management.

Business Wire | “Guardian Welcomes Industry Leader Josh Lloyd as Guardian’s Chief Operating Officer”

Guardian, a leader in the Pacific Northwest in multifamily operations, development, and investment, is pleased to announce the hiring of Josh Lloyd as Chief Operating Officer. In this new role, Lloyd will lead the company’s property management operations, overseeing 125 properties across four states. Lloyd brings more than 25 years of experience in the real estate industry, working previously as the Executive Vice President at Wood Partners, where he led operations for a portfolio of 36,000 residential units across 20 states.

BE News | “BlackRock Appoints New Head of European Real Estate Strategic Partnerships”

BlackRock has appointed Thorsten Slyta to the newly created role of Head of European Real Estate Strategic Partnerships. Slyta joined BlackRock in 2021 and has led the growth of its Nordics real estate business, expanding both the expertise of the local teams across Copenhagen and Stockholm, as well as doubling the firm’s assets under management in the region in three years. In his new role, Slyta will be responsible for driving BlackRock Real Estate’s relationships with Pan-European strategic partners and identifying attractive co-investment opportunities alongside the firm’s European funds.

Business Wire | “Stream Data Centers Appoints Rick Crutchley as Chief Operating Officer”

Stream Data Centers, a leader in the design, development, and operation of world-class data centers, announced the appointment of Rick Crutchley as Chief Operating Officer. Rick brings over twenty years of leadership experience in the data center industry from roles across operations, service delivery, and sales. Most recently, Rick served as Vice President and General Manager for Iron Mountain Data Centers.

IREI | “Realterm Appoints CIO, Asia Pacific”

Realterm has appointed Brian Oravec as CIO, Asia Pacific. In this role, Oravec will support the global Realterm organization to realize its growth targets and increase its business in the Asia Pacific region. He will work closely with the capital markets team to expand key capital relationships in the Middle East, Europe, and Asia Pacific regions, along with new product development across the platform. As part of the Senior Leadership Team, he also will focus on strategy and corporate development.