Large Platform Events | Issue 24.9

 

Summary of Transaction Headlines

IPE Real Assets | “Australia’s CSC Hires GPT Group to Manage A$2.8 Billion ($1.8 Billion USD) Property Portfolio”

Australian super fund Commonwealth Superannuation Corporation (CSC) has hired GPT Group to manage its A$2.8 Billion ($1.8 Billion USD) property portfolio. AXA Investment Management, which took over the CSC mandate when the French manager bought Sydney-based boutique manager Eureka in 2016, has managed the super fund’s assets until now. The CSC mandate is the third significant mandate for GPT, which in 2022 took over the management of UniSuper’s portfolio of four retail and two office assets, valued at A$2.8 Billion ($1.8 Billion USD) from AMP Capital. Last October, Quadreal moved the management of its student housing assets, valued at around A$1 Billion ($0.6 Billion USD), from another manager, Cedar Pacific, to GPT, with which Quadreal has an existing logistics joint venture.

IREI | “Goodman Property Trust Plans for $1 Billion Expansion”

Goodman Property Trust has plans to build a new NZ$300 Million ($185 Million USD) fund to build data centers in Auckland, New Zealand, according to media outlets. GMT, the New Zealand–based arm of global real estate investor Goodman Group, expects the value of the fund to grow to NZ$2 Billion ($1.23 Billion USD) over the next three to five years. Goodman does not currently have any data center properties in New Zealand.

CoStar | “Former Silverstein CEO Starts Own Real Estate Development Firm”

Marty Burger, the former longtime Chief Executive of Silverstein Properties, is starting his own real estate development and finance firm. Among the opportunities he plans to pursue are office and residential conversions. Burger said in a statement that Infinity Global Real Estate Partners will focus on development, acquisitions, financing, and fund management across the United States. Started in partnership with Andrew Farkas’ Island Capital Group, Infinity Global plans to seek opportunities including office to residential conversions and larger mixed-use development projects, becoming a lender to fund both operating properties and new developments through construction loans, according to the statement. 

GlobeNewswire | “Fengate Announces Key Leadership Appointments for Firm’s Real Estate Business”

Fengate Asset Management (Fengate) is pleased to announce three key leadership appointments for the firm’s real estate business. Jaime McKenna has been named President of Fengate Real Estate. Alison Kimmell has joined the firm as Managing Director, Development, Portfolio Management, and Real Estate. Colin Catherwood has been named Managing Director, Investments and Real Estate.

CoStar | “Starwood Capital Recruits Blackstone Executive as President”

Starwood Capital Group, the global private investment giant mainly focused on real estate, has appointed Blackstone Executive Jonathan Pollack as President. Pollack is set to join the Executive Leadership team at the beginning of 2025. Starwood, the United States group led by Chief Executive and Chairman Barry Sternlicht, said it was preparing for its “next chapter” of growth.

PR Newswire | “AMH Announces CEO Succession Plan”

AMH (NYSE: AMH), a leading large-scale integrated owner, operator, and developer of single-family rental homes, announced that David P. Singelyn, who has served as Chief Executive Officer since the company’s inception, has announced his intent to retire effective December 31, 2024. The company’s Board of Trustees has named Bryan Smith, the company’s Chief Operating Officer, as the next Chief Executive Officer, effective January 1, 2025. Subsequently, Mr. Singelyn will serve as an Advisor through June 2025.