The Cleveland-based real estate and fixed income manager and London-based infrastructure firm will have about $35.7bn in total AUM.
Starwood CEO Barry Sternlicht said the redemption limits for the firm's SREIT are temporary. But similar limits could be also imposed on other private REITs.
The UK pension fund is close to divesting all of its secondary office holdings as it looks to rebalance its overall real estate portfolio.
Andrew Allen was appointed global chief investment officer at the London-based manager following Kiran Patel’s retirement last month.
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 Canadian pension plan posted a 5% loss in the asset class, blaming the poor performance partly on rising interest rates.
Even before the vehicle’s liquidity issues emerged, capital raising from the investor group had fallen off a cliff last year.
Debt providers are converging on favored types of real estate, the consultant said at its latest Financing Property event.
Industry executives agree on a positive outlook for US real estate, but not on whether the upswing will include the out-of-favor sector.