Summary of Transaction Headlines

Business Wire | “Ares Management Closes $2.4 Billion Data Center Fund Focused on Japan”

Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced the final close of Japan DC Partners I LP (“JDC I” or the “Fund”), marking Ares’ first vehicle dedicated to data center investment and development. With approximately $2.4 Billion in total equity commitments, the fund positions Ares to be one of the largest data center investors in Japan with significant capital to meet the rapidly growing demand from cloud and artificial intelligence applications. JDC I will invest in the development of three data center campuses in Greater Tokyo, one of the world’s largest data center hubs, that are expected to collectively deliver nearly 240 Megawatt of IT load.

IREI | “Mary Smendzuik Joins RMR Group as Head of Capital Formation”

The RMR Group has appointed Mary Smendzuik as a Senior Vice President and Head of Capital Formation. In this newly created role, Smendzuik will lead RMR’s private capital raising strategy and spearhead expanding RMR’s relationships with institutional investors. Smendzuik has more than 18 years of experience in investor relations and capital markets. She most recently served as a Senior Vice President in the Business Development Group of Torchlight Investors, where she focused on institutional investor fundraising.

IREI | “Global Student Accommodation Group Appoints Jennifer Bitterman as CFO”

Student Accommodation (GSA) has appointed Jennifer Bitterman as CFO. Based in New York, Bitterman will join the Executive Leadership Team of GSA and the broader Dot Group. Bitterman joins GSA from Andover Properties, where she served as CFO since July 2023. At Andover Properties, she played a critical role in overseeing the financial operations of the real estate investment firm, which is one of the largest private owner-operators of self-storage facilities in the United States.

Bisnow | “Brookfield Asset Management Names New CEO of Real Estate”

Brookfield Asset Management tapped 20-year veteran Lowell Baron as the new Chief Executive Officer of its real estate business, as one of the world’s biggest property owners reshuffles the leadership of that unit. Baron remains Chief Investment Officer of the business and replaces Brian Kingston, who’s taking on a new role as Executive Chairman and will focus on the real estate assets owned on the parent company’s balance sheet, Brookfield President Connor Teskey said in an internal memo.

Business Wire | “Citymark Capital Names Former Invesco Real Estate Executive Beth Zayicek as Chief Operating Officer”

Citymark Capital, a leading US real estate capital markets platform that invests in multifamily throughout the capital stack, is pleased to announce the appointment of Beth Zayicek as Chief Operating Officer. In this newly created role, Zayicek will accelerate Citymark’s ability to continue delivering durable, risk-adjusted returns to investors through existing and future strategies. She will assume significant responsibilities managing the company’s core operations, evaluating business investment and expansion opportunities, enhancing internal and investor reporting and analytics capabilities, and adding overall value for the Citymark team, investors, and partners. Beth will also join Citymark’s Investment Committee.