Summary of Transaction Headlines

IREI | “Berkshire Bridge Loan Investors-MF1 III Holds $2 Billion Final Close”

Berkshire Residential Investments and Limekiln Real Estate have held a final close for its Berkshire Bridge Loan Investors-MF1 III (BBLI III), raising $2 Billion in commitments. This represents the largest commingled fund in the series to date. The fund attracted commitments from a wide range of investors from across the globe, including both existing and new relationships for the firm.

Commercial Observer | “BlackChamber Group Lands $1.2 Billion for Data Center Construction in Northern Virginia”

Just when you think investment in Northern Virginia’s data center market has peaked, another Billion-dollar venture comes along, taking the market to another level. Washington, D.C.-based private equity firm BlackChamber Group landed $1.2 Billion in construction financing from three lenders over the past year to support the development of four hyperscale data centers across the region. Once completed, the facilities are expected to house over 740 Megawatts of capacity.

IPE Real Assets | “PGIM Nears $1 Billion Capital Raise for PRISA III Fund”

PGIM Real Estate is planning an anticipated final closing during the first half of this year for the latest capital raise for its PRISA III open-ended, commingled fund, according to sources familiar with the situation. The $1 Billion fundraise had its first capital call in September 2023. PGIM has closed commitments totaling $830 Million for the new fundraise. San Diego City Employees Retirement System will be approving a $50 Million commitment to PRISA III this week.

Property Week | “AustralianSuper Takes 50% Stake in Oxford Properties Portfolio for $860 Million”

Australia’s biggest super fund, AustralianSuper, just made a big move. They bought a 50% stake in a portfolio of European warehouses worth $860 Million. This is part of a trend where Aussie pensions are investing more in international real estate. The deal also includes a stake in M7 Real Estate, the company managing the portfolio.

IREI | “Stoneweg Enters Swiss Residential Sector With Acquisition of Majority Stake in Fundim”

Stoneweg has acquired a majority stake in Fundim, a real estate fund manager active across French-speaking Switzerland that specializes in collective investment vehicles focused on sustainable residential developments. The partnership is underpinned by strong synergies between the two companies’ operations and teams. Completion of the transaction remains subject to certain conditions precedent, including FINMA approval.

IREI | “Parkview Financial Appoints Dhaval Parikh as Managing Director, Head of Capital Raising and Investor Relations”

Parkview Financial has appointed Dhaval Parikh as Managing Director, Head of Capital Raising and Investor Relations. Parikh joins Parkview from Ares Management, where he was a Managing Director responsible for capital raising and investor relations for the firm’s real estate debt platform.

BTR News | “Savills IM Appoints New Global CIO for Equity Investment”

The new appointment joined his new role with effect on 13 January following the departure of Andrew Allen from Savills IM. International real estate manager Savills Investment Management has appointed Michael Neal to the role of Global Chief Investment Officer (CIO) for Equity Investment. He has joined Savills IM’s Global Executive Committee and reports to Chief Executive Alex Jeffrey.

IREI | “Hines Makes New Appointments”

Hines has appointed Staffan Unge as Head of the Nordics. The firm also appointed Joppe van der Heijden and Tom Redecker as Managing Directors for the Netherlands. This follows the recent appointment of Jan Hein Tiedema as Country Head for the Netherlands and Thomas Ummels as Head of Development and Construction.

Pensions & Investments | “GIC’s Investment Chief to Step Down from Singapore Wealth Fund”

GIC Chief Investment Officer Jeffrey Jaensubhakij plans to step down after almost three decades at the Singaporean firm, one of the world’s biggest sovereign wealth funds, according to people familiar with the matter. The departure of Jaensubhakij is the biggest leadership change at GIC since January 2017, when he was made group CIO, and his predecessor Lim Chow Kiat became Chief Executive Officer.

IREI | “Cain International Appoints Lisa Feifer as Global Head of Capital Formation”

Cain International has appointed Lisa Feifer to the newly created role of Global Head of Capital Formation. Bringing more than 25 years of experience and expertise, Feifer will join Cain’s senior leadership team and help drive the firm’s capital-raising efforts and client offerings across its core growth strategies.

Multi-Housing News | “ZRS Names New CEO”

ZRS Management has named its current President, Darren Pierce, to the role of Chief Executive Officer. Pierce will replace former CEO Steve Buck, who will remain actively involved as an advisor and a member of the company’s Board of Directors. Having tallied more than 20 years of experience with some of the most successful real estate companies in the nation, Pierce was promoted to President in 2022.

IREI | “Knight Frank Appoints Giulia Grigolato as Head of Global Portfolio Solutions, EMEA”

Knight Frank has appointed Giulia Grigolato as Head of Global Portfolio Solutions (GPS), EMEA, continuing the firm’s strategic hiring for occupier strategy solutions (OSS) across the region and underlining its dedication to delivering best-in-class strategic real estate advisory services for multinational corporations. In her new role, Grigolato will focus on expanding and strengthening Knight Frank’s GPS service offering across EMEA, prioritizing value-driven solutions that enhance portfolio performance and support corporate clients in achieving their long-term real estate objectives.

IREI | “Larissa Belova Joins US Real Estate Team at UBS Asset Management”

UBS Asset Management announced that Larissa Belova has been appointed as Chief Investment Officer and Portfolio Manager in the US direct real estate team. Larissa will report to Matthew Johnson, Head of Real Estate Americas, and work closely with the wider team to manage US direct real estate portfolios. Larissa’s real estate experience includes roles in acquisitions, asset and portfolio management, structured finance, capital raising, and investor relations.

PBSA News | “Southern Grove Announces New CEO”

Southern Grove has announced that Nick Vaughan is their new CEO. He brings a depth of talent and experience, including as the former Head of Greater London Residential Development at Savills. Nick is a senior board-level professional in the residential development sector, with experience in leading on both the development and funding sides of the industry.

IREI | “Barings Appoints Lan Mayhew as Head of Real Estate Equity Asset Management Europe”

Barings has appointed Ian Mayhew to lead real estate asset management in Europe. Mayhew has been with Barings for almost 18 years, most recently as Head of U.K. Real Estate Asset Management. In his new role, Ian will lead a team of 20 asset management specialists across Europe. A key emphasis for the team under Ian’s leadership will be to prioritize delivering social and environmental sustainability along with a proactive and customer-focused approach towards asset management.