Christie Ou
Majority-owner Sun Life has decided the manager will focus on its bigger Infrastructure business. To that end, InfraRed’s European real estate platform is expected to be sold, while its Asia platform will be merged with Sun Life’s main private real estate business, Bentall GreenOak.
Proptech investing started largely as a balance sheet cost for managers to drive efficiencies in their real estate portfolios. Today, it is the focus of a whole new wave of capital raising, highlighted by PERE’s inaugural Proptech 20 ranking.
The partnership marks the Canadian firm’s second logistics investment in the country since setting foot in the market in 2019.
The Hong Kong-based real estate firm is understood to have raised half of the target for Gaw Growth Equity Fund I, which was launched last year.
The firm acquired a five-star hotel in Sydney from Chinese developer Greenland last month for around 30% below replacement value.
Blackstone is in talks to buy the building from Disney-owned Lucasfilm, as part of its strategy to invest in suburban business parks.
Despite growing competition, logistics continues to be a dominant theme in the region’s most-honored investment and fundraising activities.
Fundraising by recognized real estate managers and proptech specialists alike is increasing and the proliferation of SPACS should aid their cause.
The firm will expand its capital solutions offerings with a plan to make up to 40 new hires in the next 12 to 36 months across regions.
The firm aims to increase its allocation to the region to 40 percent of its overall property portfolio, level with its US exposure.