Summary of Transaction Headlines

IPE Real Assets | “StepStone Raises $4.5 Billion for Real Estate Secondaries Strategy”

StepStone’s real estate arm has raised over $4.5 Billion for its latest secondaries strategy. The manager said the capital secured for secondary co-investments and commitments to discretionary vehicles includes $3.77 Billion raised for StepStone Real Estate Partners V (SREP V). As previously reported, the New Jersey Division of Investment was considering establishing a $400 Million non-core real estate separate account with StepStone. The proposed allocation for the account included $75 Million for SREP V.

Bisnow | “The Wharf’s Developers Sell their Stake at $1.8 Billion Valuation”

The developers that brought a 3.5 Million Sq. Ft. mixed-use project to D.C.’s waterfront have sold their interest in the property. Hoffman & Associates and Madison Marquette have sold their stakes in The Wharf to PSP Investments, the developers announced. The companies didn’t share the price of the stakes they sold, and it hasn’t yet appeared in property records, but Bisnow and others have previously reported a deal was in the works that valued the property at $1.8 Billion.

Property Week | “Savills Chief to Step Down After Seven Years at the Helm”

Mark Ridley is to be replaced by current CFO Simon Shaw as Group Chief Executive of the blue-chip agency. Savills has announced that Group CEO Mark Ridley will step down at the end of 2025 after a 29-year career with the agency, seven of them as CEO. He will be succeeded by Simon Shaw (main picture), currently Group Chief Financial Officer, effective from 1 January 2026.

Business Wire | “Healthpeak Properties Names Kelvin Moses as Chief Financial Officer”

Healthpeak Properties, Inc. (NYSE: DOC), a leading owner, operator, and developer of real estate for healthcare discovery and delivery, announced that current Executive Vice President of Investments and Portfolio Management, Kelvin Moses has been promoted and appointed as its Chief Financial Officer. “Kelvin has made a tremendous impact since joining Healthpeak in 2018, and we are excited to elevate him to this key role on the executive team,” said Scott Brinker, President and Chief Executive Officer.