PGIM Real Estate purchased the 11-story office block in late October from Kennedy Wilson for a reported £38m.
On the verge of closing the firm's first real estate mega-fund, Marc Zahr’s next challenge is deploying the capital into the still-maturing sector.
For seven private real estate managers, breaking away from the crowd is equal parts risk and reward.
The manager is rebuilding its PBSA portfolio in the country more than a year after selling the RESA platform it had built up between 2017 and 2022.
The Munich-based mega-manager is reducing its exposure to India and China to redeploy the proceeds into the region’s more developed markets.
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 concentration of bond financing issued by the country’s REITs makes it a target for potential acquisitions in the coming months.
The commitment from the real estate investment arm of the Swiss banking giant has been invested in portfolio company Placefirst.
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.