Summary of Transaction Headlines

IREI | “PGIM Real Estate Raises $2 Billion for Final Close of Global Data Center Fund”

PGIM Real Estate has completed the fundraise for its first Global Data Center Fund (GDCF) with $2 Billion of capital allocated to the strategy. The fund has a build-fill-sell investment strategy focused on the low-latency hyperscale segment of the global data center sector, targeting opportunistic investment returns. Since its first close in July 2023, the GDCF has been developing a geographically diversified portfolio of assets targeting investments across the major global data center markets of North America, Asia Pacific, and Europe.

IREI | “Chad W. Phillips Appointed as Global Head of Nuveen Real Estate”

Chad W. Phillips will serve as Global Head of Nuveen Real Estate, effective immediately, as the firm activates long-standing succession plans following Chris McGibbon’s decision to retire after nearly 25 years of service. McGibbon will remain with the firm until his retirement on June 30, 2025. In this role, Phillips will be responsible for $141 Billion in assets under management of commercial real estate equity and debt investments extending across 22 countries globally.

Business Wire | “Essential Properties Realty Trust, Inc. Announces Executive Promotions”

Essential Properties Realty Trust, Inc. (NYSE: EPRT) (the “Company” or “EPRT”) announced the promotion of three Executives. Max Jenkins has been promoted to EVP, Chief Operating Officer. AJ Peil, CFA has been promoted to EVP, Chief Investment Officer. Robert Salisbury, CFA, has been promoted to SVP, Head of Corporate Finance and Strategy. Pete Mavoides, the company’s President and Chief Executive Officer, said, “We are pleased to recognize these three senior leaders for their contributions as partners in the business.

IREI | “EQT Appoints Michio Matsumoto as Head of Japan Real Estate”

EQT has appointed Michio Matsumoto as Managing Director and Head of Real Estate, Japan. Based in Tokyo, Matsumoto will be responsible for leading EQT’s real estate investment strategy and operations in Japan, a key market for the firm’s Asia Pacific platform. Matsumoto is an industry veteran who brings more than 30 years of experience across multiple asset classes within the Japanese real estate market. Before joining EQT, Matsumoto served as Executive Officer and Head of Investments at KKR affiliate KJR Management in Tokyo, where he led the real estate investment team that acquired properties in the logistics, residential, office, and hotel sectors. 

Green Street News | “Tom Herrschaft Appointed Head of Real Estate Management at GARBE Industrial Real Estate”

GARBE Industrial Real Estate GmbH has appointed Tom Herrschaft as its new Head of Real Estate Management. In this position, he will oversee portfolio management across Germany and contribute to the strategic development of GARBE’s real estate operations. He will report directly to Andrea Agrusow, Managing Director of GARBE Industrial. Herrschaft will be responsible for managing five regions and six branch offices within Germany.

IPE Real Assets | “URW Names Jean Pierre COO of Expanded Northern Europe Region”

Vincent Jean-Pierre will lead the newly expanded Northern Europe region, which combines the shopping center owner’s UK, Netherlands, Denmark, and Sweden operations. Jean-Pierre, a 20-year company veteran who most recently led the offices and mixed-use development division, will be supported by a regional management team comprising Geoffrey Deshayes in Amsterdam, Managing Director of Asset Management; Jacinta Rowsell in London, Managing Director of Customer and Retail Operations; Louise Haffenden in London, Managing Director of People; and Samuel Renoux in Stockholm, CFO Northern Europe.

IREI | “Geert Steenland Joins Stoneweg as Head of Asset Management, Benelux”

Stoneweg has named Geert Steenland Head of Asset Management, Benelux. In this role, Steenland will oversee all asset-management initiatives, including leasing, capital expenditure, maintenance, and development. He also will collaborate closely with the Benelux transaction team on asset acquisitions and play a key role in the onboarding of new assets, as well as the asset-disposal process. Steenland joins the Benelux management team, where he will contribute to the strategic direction and growth of Stoneweg’s presence in the region.