Large Platform Events | Issue 25.2

 

Summary of Transaction Headlines

IPE Real Assets | “Digital Edge Raises $1.6 Billion to Drive Major Data Centre Growth Strategy”

Digital Edge, a Stonepeak portfolio company, has raised more than $1.6 Billion in new capital, including approximately $640 Million of equity investment from both existing and new investors. The Singapore-based company said these co-investors represented some of the world’s largest institutional investors and sovereign wealth funds. Digital Edge said the capital raise included debt financing of $1 Billion and that it would be deployed to fuel the company’s next phase of growth across multiple data center campus expansions.

Pensions & Investments | “Norges Bank Makes $1.1 Billion Investment in U.S. Logistics Real Estate”

Norges Bank Investment Management made a $1.1 Billion investment for a 45% share of a U.S.-based logistics real estate portfolio, according to a news release. NBIM will acquire the stake from the Canada Pension Plan Investment Board, Toronto, which had total assets of
C$675.1 Billion ($499.5 Billion USD) as of Sept. 30. The logistics portfolio is made up of 48 buildings across Southern California, New Jersey, and Pennsylvania. NBIM will enter a joint venture with Australian property firm Goodman Group, which already owned 55% of the portfolio. Goodman will also perform the asset management on behalf of the joint venture.

Pensions & Investments | “Schroder Investment Solutions Selects CIO”

Philip Chandler has been named as Chief Investment Officer of Schroder Investment Solutions. SIS is a series of actively managed model portfolios and multi-asset funds established by Schroders in 2021. SIS had £6.3 Billion ($8 Billion USD) in assets under management as of Nov. 30. Chandler joined Schroders in 2003 and will maintain his current position as Head of U.K. multi-asset while also stepping into the role of CIO. He will continue to be based in London. 

IREI | “Inland Real Estate Investment Corporation Unveils New Executive Structure”

Inland Real Estate Investment Corp. announced its new executive structure throughout its subsidiaries, including Inland Private Capital Corp. (IPC), Inland Venture Partners, and Inland Securities Corp. Nati Kiferbaum has been promoted to Chief Strategy Officer of Inland Investments, synchronizing the firm’s research, investment strategy, and property underwriting with The Inland Real Estate Group’s newly appointed CIO to assure new acquisitions align with the company’s vision for sustainable growth and long-term value creation. Rahul Sehgal has been promoted to COO of Inland Investments, bringing decades of expertise in operational strategy, real estate analytics, and asset management execution.

Business Wire | “American Tower Names Bud Noel as COO and Rich Rossi as EVP and President, U.S. Tower”

American Tower Corporation (NYSE: AMT) announced that Eugene (“Bud”) Noel, currently Executive Vice President and President of the U.S. Tower Division, will become Executive Vice President and Chief Operating Officer, a newly created global position, effective January 13, 2025. This role will oversee American Tower’s Global Operations and IT, further effectuating the company’s strategic priorities to drive operational efficiency and provide best-in-class service to its global customer base.

Business Wire | “National Storage Affiliates Trust Announces Promotion of John Esbenshade to Chief Accounting Officer”

National Storage Affiliates Trust (NYSE: NSA) announced the promotion of John Esbenshade to Chief Accounting Officer, from his previous role of Senior Vice President and controller, effective January 1, 2025. David Cramer, President and Chief Executive Officer, commented, “We are pleased to recognize John’s significant contributions to NSA by elevating him to the role of Chief Accounting Officer.

Business Wire | “UDR, Inc. Announces Executive Management Promotions and Leadership Transition Plans”

UDR, Inc. (NYSE: UDR), a leading multifamily real estate investment trust, announced the following executive management promotions and leadership transition plans effective January 1, 2025. First, Mike Lacy has been promoted to Chief Operating Officer (“COO”) after having served as Senior Vice President Operations since 2019. Mr. Lacy has served in a variety of operational roles since joining UDR in 2006 and has been instrumental in leading the company’s operating strategy and implementing many of the company’s innovative initiatives.