2.1.24 | This week we recognized 2 capital-related transactions with a disclosed value of $2.6 Billion USD.
| Deal Size (Bn USD) | Capital Related Transactions |
| $1.6 | Cabot Properties Closes Seventh Industrial Value Fund With $1.57 Billion |
| $1.0 | Blackstone Raises Additional $1 Billion for Latest Europe Real Estate Fund |
| $2.6 | Total |
Additionally, we recognized 5 leadership changes within the industry.
- Ares Management Appoints Julie Solomon as Co-Head of Real Estate
- Croatan Investments Promotes Ben Bartlett to COO
- Blackstone Announces Thomas R. Nides as Vice Chairman, Strategy and Client Relations
- Cushman & Wakefield Names New CEO of Global Occupier Services
- George Currall Appointed to Chief Financial Officer of The NRP Group
Summary of Transaction Headlines
IREI | “Cabot Properties Closes Seventh Industrial Value Fund With $1.57 Billion”
Cabot Properties held a final close for its Cabot Industrial Value Fund VII (CIVF VII) in December 2023 after raising $1.57 Billion of committed capital, confirmed Seppi Colloredo-Mansfeld, director of investments at Cabot Properties, exceeding its initial target of $1.2 Billion. CIVF VII will build and acquire midsize, multi-tenant industrial warehouses near urban areas that have large, dense populations with high average incomes, low unemployment rates, a steady labor force, and good transportation infrastructure.
IPE Real Assets | “Blackstone Raises Additional $1 Billion for Latest Europe Real Estate Fund”
Blackstone’s raised an additional $1 Billion (€922.8 Million) for its latest European opportunistic real estate fund during the last three months of 2023, the manager disclosed in its fourth quarter of 2023 earnings report. The latest capital raised for Blackstone Real Estate Partners Europe (BREP) VII during the fourth quarter of the year raised the total capital commitments to the fund to $5.1 Billion. As previously reported, Blackstone is seeking to raise €10 Billion for BREP VII, a dedicated European opportunistic real estate fund that will acquire under-managed, well-located assets across the continent.
Business Wire | “Ares Management Appoints Julie Solomon as Co-Head of Real Estate”
Ares Management Corporation (NYSE: ARES) (“Ares”) announced that Julie Solomon, Global Chief Operating Officer of Ares Real Estate, has been promoted to Co-Head of Real Estate alongside Bill Benjamin, current Head of Real Estate. Effective immediately, Ms. Solomon and Mr. Benjamin will co-lead the Ares Real Estate business globally. Ms. Solomon joined Ares in 2013 and has been an invaluable leader on the real estate team throughout this time as a key contributor to the team’s significant organic and inorganic growth.
IREI | “Croatan Investments Promotes Ben Bartlett to COO”
Croatan Investments, a rental housing investment manager for private wealth and institutional capital, has promoted Ben Bartlett to COO. Bartlett will be responsible for the day-to-day operations and strategic management of the firm. In his role, he will help lead the company’s team, growth, and culture. Previously, he held the title of Senior Vice President of transactions.
MarketScreener | “Blackstone Announces Thomas R. Nides as Vice Chairman, Strategy and Client Relations”
Blackstone announced that Thomas R. Nides, former long-time Vice Chairman of Morgan Stanley, Deputy Secretary of State, and Ambassador to Israel, has joined the firm as Vice Chairman, Strategy and Client Relations. In this new role, Mr. Nides will support a variety of strategic firmwide initiatives and special projects, as well as focus on senior client relationships globally. Mr. Nides has extensive experience in both the public and private sectors.
Bisnow | “Cushman & Wakefield Names New CEO of Global Occupier Services”
Cushman & Wakefield named Aubrey Waddell as the new Head of its Global Occupier Services Division. Waddell was promoted to CEO of the department, where she was previously Global Head of Commercial Operations. She replaces Bill Knightly, who had led the division since June 2020, according to his LinkedIn profile. Waddell has been at Cushman & Wakefield’s Atlanta office since 2021, after joining the firm from JLL. She has been leading a team focused on commercial negotiation, solution architecture, transition management, proposals, and pricing.
Business Wire | “George Currall Appointed to Chief Financial Officer of The NRP Group”
The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, announced the appointment of George Currall as Chief Financial Officer (CFO). The announcement follows the retirement of Andy Tanner, a 23-year veteran of NRP and the firm’s long-time CFO. All changes are effective immediately. “George has played a pivotal role in transforming NRP into a national industry leader through his disciplined approach to multifamily investments, and I am excited to begin this next era of growth under his leadership,” said J. David Heller, President, Chief Executive Officer, and Co-Founder of NRP.
