Summary of Transaction Headlines

IREI | “StepStone’s Real Estate Secondaries Fund Raises $2.4 Billion, Aims to Close Next Couple of Quarters”

StepStone Group has raised $2.4 Billion for its current real estate secondaries fund in the market through December, already exceeding the prior vintage of $1.4 Billion. “We anticipate executing final closes on our real estate secondaries fund and in our multi-strategy growth equity fund within the next couple of quarters. We remain in the market with our debut infrastructure secondaries fund, our corporate direct lending fund, and our opportunistic lending fund,” said Michael Mccabe, Head of Strategy of the firm, in a transcript of the fiscal third quarter 2025 earnings call.

IPE Real Assets | “NYSCRF Invests $1 Billion in Data Centers and US Apartments”

The New York State Common Retirement Fund (NYSCRF) has invested over $1 Billion in real estate by acquiring two apartment buildings in the US and committing $500 Million to a data center strategy managed by IPI Partners. NYSCRF’s apartment acquisitions in Southern California comprise the Simone Little Italy in downtown San Diego for $283 Million and The Royce in Irvine for $247.5 Million.

CoStar | “Cushman & Wakefield Appoints Head of Ireland”

Cushman & Wakefield appointed Thomas Carthy as Head of Ireland Business. He will be responsible for the strategic direction and business development of the firm in Ireland. Carthy, who has more than 35 years of real estate industry experience, will be responsible for the strategic direction and business development of C&W in Ireland on a permanent basis.

IREI | “Denholtz Welcomes Jennifer McCool as Executive Vice President and Head of Capital Markets”

Denholtz has hired Jennifer McCool as Executive Vice President and Head of Capital Markets. McCool joins Denholtz from Kushner, where she led the day-to-day strategy and execution of Kushner’s investment management platform as Executive Vice President. Before her role at Kushner, she was the COO at WatermanCLARK, a vertically integrated real estate investment and operating company.

Commercial Observer | “Gilbane Development Company Hires James Patchett as President and CEO”

One of America’s oldest construction firms has hired a commercial real estate industry veteran to lead its development division into the future. Gilbane Development Company, a firm with $8.5 Billion worth of student housing, affordable housing, and multifamily properties under its portfolio, has hired James Patchett as its new President and CEO.

IREI | “CBRE IM Appoints Christy Hill as Managing Director and Head of Americas Logistics Asset Management”

CBRE Investment Management has appointed Christy Hill as Managing Director and Head of Americas Logistics Asset Management. Hill is based in Los Angeles and reports to Jesse Harty, Head of CBRE Investment Management’s (IM) Americas Logistics Operator Division. She will oversee 64.5 Million Square Feet of CBRE IM’s logistics portfolio. She will also oversee a team of 14 across three CBRE IM offices.

IREI | “LaSalle Names Asia-Pacific Co-CIO Heads, Chairman”

LaSalle Investment Management has announced key leadership appointments in Asia Pacific. Steve Hyung Kim has been appointed Asia Pacific Co-CIO, partnering with Kunihiko (Nick) Okumura, who will continue in his role as Asia Pacific Co-CIO. Additionally, effective July 1, 2025, Okumura and Kim will succeed Keith Fujii as Co-Heads of Asia Pacific and join LaSalle’s global management committee (GMC). Okumura also will serve as CEO of Japan, and Kim will serve as Head of Korea.

IPE Real Assets | “Bryant Leads Partners Group Real Estate After Habra Exit”

Mike Bryant has taken on the role of sole Global Head of Real Estate as Karim Habra, who assumed a Co-Head position a year ago, plans to depart the firm. The leadership restructuring of the real estate division follows the firm’s acquisition of Empira Group. As part of this transition, Habra has decided to step down as Global Co-Head of Real Estate to explore new opportunities.