Summary of Transaction Headlines

IREI | “Blackstone Finalizes $4 Billion Acquisition of Retail Opportunity Investments Corp.”

Blackstone has completed its acquisition of Retail Opportunity Investments, finalizing the transaction at $17.50 per share in an all-cash deal valued at approximately $4 Billion, including outstanding debt. The acquisition was executed through Blackstone Real Estate Partners X. J.P. Morgan served as ROIC’s exclusive financial advisor, while Clifford Chance US LLP provided legal counsel. Blackstone received financial advisory services from Morgan Stanley & Co. LLC, BofA Securities, Citigroup, Wells Fargo, Newmark, and Eastdil Secured. Simpson Thacher & Bartlett LLP acted as Blackstone’s legal counsel.

IPE Real Assets | “APAC Manager PAG Secures $4 Billion for Opportunistic Real Estate Strategy”

Asia-Pacific alternative investment firm PAG has raised $4 Billion USD for its SCREP VIII opportunistic real estate fund, including co-investment capital. The fund, which surpassed its $3.5 Billion USD target, was backed by both returning and new investors. SCREP VIII’s investor base primarily consists of pension funds and sovereign wealth funds from North America, Europe, the Middle East, and the Asia Pacific region. SCREP VIII focuses on property and debt investments across developed Asian markets with its largest investment presence in Japan. 

IPE Real Assets | “Goodman Group Raises A$4 Billion ($2.5 Billion USD) for Data Centre and Industrial Projects”

Goodman Group is raising A$4 Billion ($2.5 Billion USD) through a fully underwritten institutional placement to fund its pipeline of data centres and industrial development. As well, the logistics giant has also issued a non-underwritten security purchase plan (SPP) for eligible securityholders to raise up to A$400 Million ($298 Million USD). Greg Goodman, Goodman’s Group CEO, said, “The raising will help us further strengthen the capital structure of the group, providing flexibility in undertaking a large development program, predominantly in data centre activity, to drive long-term sustainable growth.

IPE Real Assets | “HMC Capital Targets A$2.5Billion ($1.6 Billion USD) Portfolio With Launch of Three Retail Trusts”

Australian asset manager HMC Capital has secured capital from investors, including a global multi-manager and a global pension fund, to launch three unlisted retail trusts, aiming to assemble a combined portfolio of more than A$2.5 Billion ($1.6 Billion USD) over the next 12 to 24 months. Speaking at the firm’s earnings call, David Di Pilla, HMC Capital’s CEO, said the firm was seeing momentum pick up in its real estate division, and it was on track to establish three new unlisted institutional funds, enabling it to deploy capital into new retail strategies.

Bisnow | “Segro Plans to Quadruple £1.3 Billion ($1.6 Billion USD) Data Centre Portfolio”

The UK’s largest REIT has put together a land bank that will allow it to vastly increase its data centre portfolio, taking advantage of demand in the fast-growing asset class. Segro said it has assembled UK and European land and secured access to power that would allow it to build out a data centre portfolio with 2.3 Gigawatts of power capacity. Its current portfolio stands at 0.5 Gigawatts across 34 UK data centres totalling 2.5 Million Sq. Ft.

IREI | “KKR Raises More than $850 Million for Opportunistic Real Estate Credit Strategy”

KKR has held a final close of the KKR Opportunistic Real Estate Credit Fund II (ROX II), a strategy dedicated to opportunistic investments in senior loans and real estate securities in the United States and Western Europe. Closed commitments to the comingled fund and separate accounts pursuing KKR’s Opportunistic Real Estate Credit Strategy totalled more than $850 Million.

IREI | “Barings to Acquire Artemis Real Estate Partners”

Barings has entered into a definitive agreement to acquire Artemis Real Estate Partners, an $11 Billion-plus real estate investment firm. The transaction is expected to close in the first quarter of 2025. Financial terms were not disclosed. “We are thrilled to welcome the Artemis team to Barings, where we share a deep commitment to serving as trusted partners to investors,” said Mike Freno, Chairman and CEO of Barings.

Property Week | “L&G’s Affordable Provider Hires New Chief Operating Officer”

L&G’s affordable housing provider has hired a new Chief Operating Officer (COO) to help lead the growth of the business and expand housing delivery. Legal & General Affordable Homes (LGAH), which develops and operates the company’s affordable homes, has appointed Operations Executive Peter Cross to the newly created COO role. Mr Cross joins LGAH with over 20 years of experience in the property sector.

PR Newswire | “Per Franzen Appointed New CEO of EQT AB as of May 2025”

The Board of Directors of EQT AB (“EQT”) has appointed Per Franzén as the new CEO and Managing Partner of EQT, effective as of the Annual Shareholders’ Meeting on 27 May 2025. Per Franzén will succeed Christian Sinding, who has led EQT through a period of extraordinary transformation, growing the firm from a market capitalization of around EUR 7 Billion ($7.3 Billion USD) at the time of its 2019 IPO to around EUR 40 Billion ($42 Billion USD) at the time of this announcement.

IPE Real Assets | “Letter to Become Prologis CEO as Moghadam Retires”

Prologis Co-founder Hamid R Moghadam is retiring from his CEO role, effective 1 January 2026. After more than four decades, Moghadam will continue as Executive Chairman, providing strategic guidance. President Dan Letter will become CEO in January 2026 and joins Board of Directors, effective immediately. Dan Letter, currently President, will succeed Moghadam as CEO.

Pensions & Investments | “PensionDanmark Names Head of Real Estate”

Torben Modvig was named as Head of Real Estate at the 343.2 Billion Danish Kroner ($48  Billion USD) PensionDanmark, Copenhagen. The portfolio that Modvig will oversee has a value of more than 30 Billion Kroner ($4.1 Billion USD). PensionDanmark plans to invest 3 Billion Kroner ($0.4 Billion USD) annually in Danish real estate to reach a goal of making real estate constitute 10% of its total assets.