Sarah Marx
The New York-based manager bought an 80% stake in South Africa-listed Burstone’s Pan-European Logistics platform on behalf of its BREP X and BREP Europe VII funds.
The debt secured on the 36-storey office building is due to be repaid in January 2025.
Institutional capital was a major contributor to investment volumes in the asset class nearly doubling in the second quarter of 2024 from the same period last year, Cushman & Wakefield reported.
The £35m deal was also the Singaporean manager’s first since its inception a year ago.
The firm’s acquisition of Quintain Developments Ireland from Lone Star for €200m follows its takeover of Intervest in May.
The UK private pension fund has acquired 3,000 homes in the country’s largest-ever deal for shared ownership housing.
The Milan-based manager will convert the property into student housing following the 2026 Winter Games.
He arrives in the newly created role from a nine-year stint at CBRE Investment Management.
Commitments and deployment accelerated significantly over the last three quarters.
The purchase marks the fourth hotel deal for the manager’s first value-add hospitality fund.