Summary of Transaction Headlines

IPE Real Assets | “Blackstone Closes €10 Billion ($11 Billion USD) Europe Real Estate Fund”

Blackstone has closed its latest European real estate fund with €10 Billion ($11 Billion USD) in capital commitments, which the manager says is the largest European real estate drawdown fund ever raised based on third-party capital. As previously reported, Blackstone was aiming to raise €10 Billion ($11 Billion USD) for its opportunistic Blackstone Real Estate Partners Europe VII (BREP Europe VII) fund and had secured backing from several US institutions.

IREI | “JPMorgan’s Campbell Global Raises $2.3 Billion for Timberland Investments”

J.P. Morgan Asset Management has held a closure for its Campbell Global’s Forest & Climate Solutions Fund II at $1.5 Billion, exceeding its fundraising target. The fund was launched in 2022 with a fundraising target of $1 Billion and was the first fund launched following J.P. Morgan’s acquisition of Campbell Global in 2021. In addition to the funds, Campbell Global also closed several separate account mandates, bringing the total capital raised to $2.3 Billion.

Business Wire | “Ki Corporation and Public Storage Offer to Buy Abacus Storage King for $1.2 Billion”

Abacus Storage King, which operates self-storage facilities in Australia and New Zealand, has received a A$1.93 Billion ($1.2 Billion USD) takeover bid from US-based Public Storage and Ki Corporation. The pair submitted the non-binding indicative offer of A$1.47 per share after markets closed last week, aiming to acquire all outstanding stapled securities in Abacus Storage King that are not already owned by Ki or its subsidiaries. 

PR Newswire | “Knightvest Capital Names Madison Tappan Chief Investment Officer”

Knightvest Capital, a vertically integrated multifamily investment firm, announced the appointment of Madison Tappan to Chief Investment Officer (CIO). In this role, Madison will primarily oversee Knightvest’s acquisition strategy and lead efforts to expand the firm’s multifamily portfolio in key Sun Belt markets. He will play a pivotal role in deploying capital from Knightvest’s second investment fund, launched in 2024, with a focus on acquiring 2000s-era properties and renovating them to a standard comparable to new construction.

IREI | “Newmark Promotes Luis Alvarado to COO”

Newmark Group has promoted Lou Alvarado to the newly created COO position. Alvarado first joined Newmark in 2015 as Executive Vice President and Boston Market Leader. He rapidly ascended to Chief Revenue Officer and East region market leader in 2018, where he oversaw revenue-generating operations, including nearly all business lines, and drove company growth throughout the East Coast.

IPE Real Assets | “M&G Real Estate Appoints New Global Head of Real Estate”

Martin Towns has been named Head of M&G’s Global Real Estate Division, succeeding Tony Brown, who is retiring after a 35-year career in infrastructure and real estate investment. M&G said Towns will lead its $42 Billion real estate business from 1 July. Brown is moving to Australia with his family at the end of June, ensuring a handover period before his departure. Towns, who has been with M&G for 15 years, has held roles including Fund Manager and, more recently, as Deputy Global Head of M&G Real Estate, where he played a key part in the firm’s 2013 move into the residential market and the 2015 formation of its capital partnerships business.