The firm remains interested in the rest of the IFC Seoul complex, with the acquisition setting 'the tone' for its future Korean investments.
Through a third investment in Bulk Infrastructure, the New York-based firm looks to meet demand for AI-ready data centers, says its co-CEO.
Real estate market participants do not expect a significant immediate change in debt market conditions.
An undisclosed ultra-high-net-worth individual purchased the revamped property from ActivumSG for €51m.
The manager is buying 24 properties comprising 5 million square feet from logistics giant Prologis with equity from its $4.9bn sixth industrial value-add fund.
The Cleveland-based real estate and fixed income manager and London-based infrastructure firm will have about $35.7bn in total AUM.
The addition of Cromwell Europe will double Stoneweg’s AUM and expand its wheelhouse into multiple new markets, says founder Jaume Sabater.
The firm will shift to being a local manager given the difficulties of being global without vast scale, according to Cromwell’s CEO.
The four industrial properties located on the Texas-Mexico border were sold to two institutional buyers.
The historic five-star hotel on the Grand Canal has been closed since 2022 for renovation, and now has a new owner.