Summary of Transaction Headlines

Commercial Observer | “Principal Asset Management Closes $3.6 Billion Data Center Development Fund”

Data center development is booming and continues to attract investor capital. Principal Asset Management announced that it closed a $3.64 Billion fund exclusively devoted to developing hyperscale data centers across the United States. This is the third discretionary data center-focused fund closed by Principal in recent years. The new fund, known as the Principal Data Center Growth & Income Fund, is expected to partner with Stream Data Centers and capitalize up to $8 Billion of data center development.

Yahoo Finance | “Welltower to Acquire Amica Senior Lifestyles Portfolio for $3.2 Billion”

Welltower, Inc. (WELL) recently announced that it is under contract to acquire the Canada-based senior housing portfolio of Amica Senior Lifestyles from Ontario Teachers’ Pension Plan for an aggregate consideration of C$4.6 Billion ($3.2 Billion USD). The deal, subject to customary regulatory approvals, is expected to close in the fourth quarter of 2025.

Commercial Observer | “CIM and Novva Secured $2 Billion for Data Center in Utah”

The demand for data center developments is continuing at an electric pace. A joint venture between CIM Group and Novva Data Centers has secured $2 Billion of construction financing to build a 175-megawatt data center campus in suburban Salt Lake City. J.P. Morgan Chase and Starwood Property Trust provided the loan on the development team’s planned 100-acre data facility in West Jordan, Utah.

GlobeSt. | “Fairfield Closes its Fourth U.S. Multifamily Value Add Fund With $1.5 Billion”

Fairfield has fetched $1.5 Billion from its biggest fundraising ever and now plans to bet on more multifamily properties. The commitments of its U.S. Multifamily Value Add Fund IV LP included a $350 Million co-investment equity. Also, the $1.5 Billion raised exceeded its initial target of $1 Billion.

Commercial Observer | “400 Capital Management Closes Fourth Investment Fund With $1.4 Billion in Commitments”

A New York-based alternative credit manager has blown past its previous fundraising totals by closing a new $1.39 Billion fund devoted to investing in the residential real estate space, commercial real estate, and other asset-based securities. 400 Capital Management, an investment firm with $7.4 Billion in assets under management, announced that it closed its fourth private credit fund, Asset Based Term Fund IV, blowing past its $1 Billion goal by more than $380 Million.

IPE Real Assets | “Australian Retirement and Almanac to Invest $1 Billion in US Real Estate”

Australian Retirement Trust (ART) and Almanac Realty Investors are to invest $1 Billion in core and core-plus real estate operating companies (REOC) across the US. The $300 Billion Australian superannuation fund and Almanac venture will adopt a flexible investment strategy, considering both majority and minority stakes in REOC. They will also target minority investments in established firms needing capital for liquidity and growth.

IPE Real Assets | “Octopus Investments Seeks to Raise £750 Million ($962 Million USD) for UK Real Estate Debt Strategy”

Octopus Investments is seeking to raise £750 Million ($962 Million USD) for a UK real estate debt fund. The investment manager said Octopus Real Estate Debt Fund IV will fund senior-secured acquisition, development, and stabilization loans across all the key living sectors and will also have an allocation to offices, industrial, and retail sectors.

IREI | “Buckingham Cos. Welcomes W. Jeffrey Beckham as CIO”

Buckingham Cos. has appointed W. Jeffrey Beckham as CIO to its executive team. In this new role, Beckham will oversee investment strategy, portfolio management, and capital allocation for Buckingham’s rapidly growing platform. Beckham joins Buckingham with more than 25 years of experience managing large real estate funds.

PBSA News | “Nuveen Appoints Managing Director, Head of Investment”

Nuveen Real Estate has appointed Nicolas Biganzoli to the role of Managing Director, Head of Investments in France. In this role, Nicolas will be responsible for overseeing investment activity across the risk spectrum for Nuveen’s real estate platform across all sectors in France. Nicolas joins Nuveen with over 20 years of real estate experience.

IREI | “J.P. Asset Management Names New Head of Research and Investment Strategy for Real Estate Americas”

Thomas Kennedy has joined as Head of Research and Investment Strategy for Real Estate Americas at J.P. Asset Management. Based in New York, Kennedy will lead the real estate Americas research group and manage separate account teams, focusing on bringing market-leading insights and strategies to clients. Kennedy was previously the Chief Investment Strategist for J.P. Morgan Global Wealth Management.

Citywire | “Wellington Taps PIMCO Veterans for New Real Estate Credit Platform”

Wellington Management has hired Ravi Anand as Head of Private Real Estate Credit, along with three other PIMCO team members, to build a new debt platform at the $1.2 Trillion firm. Anand departs PIMCO after serving at the firm for over six years as Global Co-Head of CRE Debt and Head of U.S. Private CRE Debt, overseeing most funds focused on investing in first mortgage loans secured by U.S. commercial real estate assets. Working on one of the world’s largest real estate debt portfolios, the team brings decades of combined experience and most recently worked together within PIMCO’s commercial real estate debt platform. 

IREI | “Steve Carroll Promoted to Managing Director, Head of International Capital Markets at CenterSquare”

CenterSquare Investment Management has promoted Steve Carroll to the position of Managing Director, Head of International Capital Markets. In this role, Carroll will lead go-to-market strategy and ongoing business development efforts with institutional investors in international markets. This promotion underscores CenterSquare’s commitment and firm belief in the significant opportunity set presented by the growing interest in real estate within global regions.

PR Newswire | “Clearwater Living Promotes Danielle Morgan to Chief Executive Officer”

Clearwater Living, a premier real estate and property management company specializing in the development and operation of high-quality senior living communities, announced that Danielle Morgan has been promoted to CEO. “Danielle has been an exceptional leader as our President and Chief Operating Officer,” said Tony Ferrero, Chairman and Founder of Clearwater Living.

Commercial Observer | “LeFrak Appoints First Non-Family Executive in Company History”

For the first time, New York developer LeFrak will have a person without the LeFrak lineage on its executive team. LeFrak has named Adam Silfen as its new President and Chief Operating Officer, the first executive appointment to the office of the Chairman from outside the LeFrak family in the company’s 120-year history.