Summary of Transaction Headlines

Commercial Property Executive | “CoreWeave to Deploy $6 Billion for Pennsylvania Data Center”

CoreWeave will invest $6 Billion in a new data center facility in Lancaster, Pa. Chirisa Technology and Machine Investment Group will co-develop the project, set to provide 100 Megawatts initially and up to 300 Megawatts at full build-out. A joint venture of Turner Construction Co. and Wohlsen Construction will act as general contractors. CoreWeave’s new project comes on the heels of another large data center investment in the state.

Bisnow | “Former Brookfield, Forest City Execs Launch Development Firm With $1.5 Billion Project”

A group of former Brookfield Properties executives has joined forces with Singapore-based asset management and investment firm Croesus Group to launch a North America-focused firm working on mixed-use projects in urban areas. The firm, called Esen, has also announced its first project: a $1.5 Billion, 2,000-unit mixed-use development in Jersey City, New Jersey. Esen’s multiphase project will bring three residential towers to the Jersey City waterfront for a total of 2,000 units ranging from studios to three-bedrooms. The group expects construction to begin in summer 2026 and be completed in early 2029.

IREI | “Stonepeak to Invest $1.3 Billion in Princeton Digital Group”

Princeton Digital Group (PDG), Asia Pacific’s leading data center operator, has signed a definitive agreement with Stonepeak in which the firm will make a preferred equity investment of $1.3 Billion in PDG to support its continued expansion across Asia Pacific. This investment follows PDG’s recently announced $1.2 Billion debt financing. Together, Stonepeak’s investment and the recent debt financing bring the total capital raised by PDG in 2025 to $2.5 Billion across equity and debt, reinforcing the company’s position as a leading provider of hyperscale infrastructure in Asia.

Bisnow | “BlackRock Raises £1 Billion ($1.3 Billion USD) for Fund Targeting Living, Logistics and Data Centers”

BlackRock has completed the fundraising for its sixth European value-add fund, which is looking to capitalize on the fall in real estate values over the past few years. The firm has raised £1 Billion ($1.3 Billion USD) of equity and co-investment capital for BlackRock Europe Property Fund VI. That is slightly less than the €1.3 Billion ($1.5 Billion USD) it raised for the fund’s predecessor in 2020. The fund has committed about 70% of its capital to 11 investments in sectors spanning living, logistics, and data centres.

Reuters | “Canada’s City Office REIT to be Taken Private in Near $1.1 Billion Deal”

A publicly traded owner of Sun Belt office buildings has agreed to be taken private in a $1.1 Billion merger with a subsidiary of hedge fund Elliott Investment Management. MCME Carell reached a deal to acquire the outstanding shares of City Office REIT for $7 per share, a 26% premium to the stock’s last close, in an all-cash deal the firms announced. The merger agreement is set to close by the end of 2025. “After conducting an extensive process to explore potential strategic alternatives, we are pleased to have reached an agreement with MCME Carell,” City Office CEO James Farrar said.

Commercial Observer | “SL Green Raises More than $1 Billion for NYC Debt Fund”

SL Green Realty raised more than $1 Billion for its SLG Opportunistic Debt Fund, which purchases loans or loan portfolios around New York City. SL Green said the fund, which is backed by a group of public pensions, insurance companies, and “select high-net-worth platforms,” secured more than $500 Million in new commitments this week alone, with several more to come. In December, SL Green received a $250 Million anchor commitment from Canadian pension fund Caisse de Dépôt et Placement du Québec for the fund.

Multi-Housing News | “Invesco, Bozzuto Launch $1 Billion JV With Florida Buy”

Invesco Real Estate and Bozzuto formed a $330 Million investment joint venture with an overall capacity of approximately $1 Billion. The duo will deploy capital across East Coast markets. The partners have already closed on their first purchase, a 220-unit property in Orlando, Fla., dubbed Enders Place. TA Realty sold the assets, according to Yardi Matrix data. Its previous price tag was $53.2 Million in 2020.

IREI | “Stonelake Capital Partners Sells $920 Million of Industrial Real Estate”

Stonelake Capital Partners has sold 91 industrial buildings totaling 7.6 Million Square Feet. Stonelake exited the portfolio through 13 separate transactions totaling $920 Million during the past six months. The buyers included large pension funds and institutional investment managers. The portfolio consisted of 91 industrial buildings totaling more than 7.6 Million Square Feet located in Nashville, Atlanta, Dallas, Houston, El Paso, and Austin.

PERE | “ESR Sells Remaining Cromwell Stake to Brookfield for $130 Million”

Cromwell Property Group has announced that Brookfield has entered into a binding agreement to acquire the remaining 19.9 percent stake held by ESR in the listed property group. As part of ESR’s stated strategy of noncore divestments to simplify its business, ESR has sold a 10.8 percent stake in Cromwell. Post-transaction, ESR will remain Cromwell’s largest security holder and retain a 19.9 percent stake, reflecting our confidence in Cromwell’s outlook. 

Yahoo Finance | “Macquarie to Buy 12,000 Student Beds in Europe Real Estate Push”

Australian finance giant Macquarie has agreed to buy two student housing businesses in Europe that manage over 12,000 beds, in the latest sign of overseas investors pushing into the sector. Macquarie will buy two specialist student housing investment platforms – MILESTONE and BaseStack Living – for an undisclosed fee, the company said in a statement. The move is part of Macquarie’s strategy of growing its private markets unit overseas after offloading its international public assets to Nomura.

IREI | “Hunt Companies Acquires Majority Stake in Carter”

Hunt Cos. has acquired a majority stake in Carter, a premier real estate investment and development firm headquartered in Atlanta. The acquisition reinforces Carter’s position as a leader in mixed-use and residential development while expanding its ability to pursue large-scale opportunities across the United States. Recently, the partners delivered the Prospect Lake Wire project, a transformational mixed-use development in Lakeland.

Housing Today | “Thirteen Appoints Chief Investment and Property Officer in Leadership Restructure”

Thirteen Group has appointed a Chief Investment and Property Officer. Sharon Thomas has been promoted from Director of Development and Partnerships to the newly created role. Thomas has served at Middlesbrough-based Thirteen Group for more than seven years, in several roles.

IREI | “Ambrose Names New COO”

Ambrose has made several promotions within its organization. These elevations come as Ambrose positions its investment platform to capitalize on strategic growth opportunities amid challenging market dynamics. “As Ambrose continues to grow and evolve, these promotions reflect the incredible talent and leadership within our organization,” said Jason Sturman, President and CIO.

CoStar | “Lisette Van Doorn to Step Down as ULI Europe CEO After Decade of Growth and Transformation”

Lisette van Doorn, the long-serving CEO of ULI Europe, has announced she will step down at the end of 2025, closing a transformative 10-year chapter that has seen the organization grow from 2,000 to over 5,500 members across Europe. Backed by a solid framework of knowledge exchange, policy-shaping research, and influential programs, the Urban Land Institute (ULI) now hosts over 300 annual events, solidifying its leadership in the future of real estate and urban development.

CoStar | “Cushman & Wakefield Appoints Ben Cullen as Head of UK and Ireland”

Cushman & Wakefield has appointed Ben Cullen as Head of UK and Ireland, succeeding George Roberts, who is leaving the firm. Cullen joined Cushman & Wakefield as a graduate in 2001 and was made an international partner in 2016. He was made Head of Offices, UK in 2021, and is a member of the firm’s UK Executive Committee.

Citywire | “Man Group Trims Headcount, Names Global CIO”

Man Group has cut jobs and elevated long-time executive Greg Bond to the newly created role of Chief Investment Officer, as CEO Robyn Grew pushes ahead with an overhaul of the firm’s leadership structure. Bond, currently CEO of Man Numeric and Head of Americas, will now serve as the group-wide CIO, overseeing investment strategy across Man’s diverse platform, which includes leading systematic and discretionary hedge fund strategies.