Christie Ou
While Saunders was the only key man in its Asia funds, MacDonald and Ju will become the co-managers for its existing and upcoming funds.
The acquisition marks the entry of the asset manager’s alternatives unit into real estate following its launch in 2021.
The firm has endorsed three executives in North America and one in Asia-Pacific as its real estate business continues to grow.
The investor accelerated its investment pace in FY 2022 to capture the post-covid-19 opportunities before price recovery.
The Australian firm is planning to launch a value-add fund and bespoke strategies with its capital partners in the region.
Despite the more positive outlook for the sector at a pan-Asia level, organizations from the US and Europe are still taking opportunities to reduce their exposure to the region.
The former Neiman Marcus retail space, which Wells Fargo acquired for $550m, will become the sole office space in the retail property.
The firm plans to lower the vehicle's exposure to offices by 15-20% as it seeks to top up its allocation to multifamily and logistics.
Exits include its shares in Chinese logistics company CNLP and all of its non-performing loans in the country.
If fundraising continues at its current place, the year is on track to end with the lowest amount raised since 2012.