Tag Archives: Real estate

CDPQ invests USD 240 million to propel TerraPact’s growth in North America

Cdpq

CDPQ, a global investment group, and TerraPact, an owner and operator of real estate that underpins America’s wireless, broadband, and energy sectors, announced today the conclusion of an agreement under which CDPQ will provide USD 240 million (CAD 335 million) in senior financing to support the growth of TerraPact’s real estate portfolio across the United States and in British Columbia, Canada. The investment will also refinance TerraPact’s existing debt structure.

TerraPact, a Columbia Capital portfolio company, manages a highly diversified platform comprised of long-term ground leases and rights of way for more than 700 assets. The platform benefits from long-term and resilient cash flows, as each site underprops critical digital, utility and energy infrastructure.

“TerraPact is a strategically positioned ground lease platform which occupies a core position in the infrastructure value chain, delivering connectivity and energy across North America,” said  Marc Cormier, Executive Vice-President and Head of Fixed Income at CDPQ. “With this transaction, CDPQ is providing a bespoke infrastructure financing solution as sole lender, tailored to propel TerraPact’s growth ambitions over the years to come.”

“We are excited to continue our partnership with CDPQ,” said Ben Myers, CEO of TerraPact. “This growth financing will allow us to continue our multi-year strategy of becoming one of America’s premier energy and digital infrastructure landowners. We couldn’t be more excited to move forward with CDPQ’s best-in-class financing team.”

ABOUT CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2024, CDPQ’s net assets totalled CAD 452 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.

CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.

ABOUT TERRAPACT

Founded in 2012 and headquartered in Waltham, Massachusetts, TerraPact is a leading acquirer and manager of real estate assets critical to infrastructure within North America’s wireless, broadband, and energy sectors. TerraPact offers asset owners a unique opportunity to divest and monetize their holdings through flexible and economically rewarding transactions. For more information, please visit terrapact.com.

ABOUT COLUMBIA CAPITAL

Columbia Capital was founded over 30 years ago and, in that time, has developed a repeatable investment model guided by a specialized and experienced team. Columbia focuses on the investments in the digital infrastructure, enterprise technology, and mobility spaces and has raised over $8B in fund commitments. For more information, please visit www.colcap.com.

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EQT Completes Acquisition of PropertyGuru

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eqt

PropertyGuru enters into next phase of growth as Southeast Asia’s leading property technology platform, empowering millions of property seekers across the region with innovative solutions.

EQT to harness its deep expertise in scaling digital marketplace and classifieds businesses to drive technology innovation, operational excellence, and market expansion.

Sets the stage for PropertyGuru to capitalize on urbanization, middle-class growth, and digitalization trends across the region’s dynamic real estate markets.

SINGAPORE & NEW YORK – December 13, 2024 –EQT Private Capital Asia and PropertyGuru Group Limited (NYSE: PGRU) (“PropertyGuru” or the “Company”), Southeast Asia’s leading property technology (“PropTech”) company, are pleased to announce the completion of the acquisition (the “Merger”) of PropertyGuru by BPEA Private Equity Fund VIII for USD 6.70 per share in cash in a transaction that values PropertyGuru at an equity value of approximately USD 1.1 billion.

In connection with the closing, PropertyGuru’s common shares ceased trading before the market open on December 13, 2024, and the Company has been delisted from the New York Stock Exchange. PropertyGuru will operate as a privately held company. Following the Merger through January 12, 2025, each unexercised and outstanding warrant will be, upon valid exercise, exchangeable for USD 0.7526 per warrant.

Founded in 2007 and headquartered in Singapore, PropertyGuru is Southeast Asia’s leading property technology platform, connecting over 31 million property seekers with more than 50,000 agents across Singapore, Malaysia, Thailand and Vietnam each month. With a comprehensive suite of offerings, including extensive real estate listings, data-driven insights, and mortgage solutions like PropertyGuru Finance and enterprise client solutions under PropertyGuru for Business, the Company empowers users to make confident property decisions across the region.

EQT’s investment in PropertyGuru aims to support the Company’s ongoing progress by providing resources and expertise to accelerate technology development, expand market reach, and improve operational efficiency. Leveraging its experience with leaders in the digital marketplace and real estate classifieds sectors – including companies such as Idealista and Casa.it – EQT seeks to advance PropertyGuru’s strategic initiatives, strengthen its position in Southeast Asia’s PropTech sector, and drive growth in dynamic markets influenced by urbanization, middle-class expansion, and digitalization.

Hari V. Krishnan, Chief Executive Officer, PropertyGuru Group, said, “We are pleased to announce the successful completion of this transaction and we welcome EQT to PropertyGuru. Over the past seventeen years, our growth has been enabled by strong partnerships with our shareholders, led by TPG and KKR. On behalf of everyone at PropertyGuru, I want to thank them for their support and I am proud that we have delivered a solid financial exit for our long-term investors.”

“On behalf of our group leadership team, I thank our Gurus for their hard work and the wonderful business we have built together, and our customers and partners for their continued trust and partnership. EQT shares our commitment to our continued sustainable growth, and we look forward to working with them towards our Group’s vision to power, communities to live, work and thrive in tomorrow’s cities,” Mr. Krishnan added.

Janice Leow, Partner in the EQT Private Capital Asia advisory team and Head of EQT Private Capital Southeast Asia, said, “PropertyGuru has redefined the property technology landscape in Southeast Asia, standing out for its innovation and leadership in delivering solutions that empower millions across the region. Drawing on EQT’s expertise in technology-driven businesses, with a strong focus on marketplace and classifieds platforms, we look forward to supporting PropertyGuru in exploring new opportunities, enhancing its offerings, and driving its next phase of growth while contributing to the evolution of the property market in Southeast Asia.”

Contact
EQT Press Office, press@eqtpartners.com
PropertyGuru Group, Corporate Communications, mediaenquiry@propertyguru.com.sg

[1] Based on SimilarWeb data between January 2024 and June 2024.

About

About EQT
EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 134 billion in fee-generating assets under management), divided into two business segments: Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific, and the Americas and supports them in achieving sustainable growth, operational excellence, and market leadership.

More info: www.eqtgroup.comFollow EQT on LinkedIn, X, YouTube and Instagram

About PropertyGuru
PropertyGuru is Southeast Asia’s leading1 PropTech company, and the preferred destination for over 31 million property seekers[1] to connect with over 50,000 agents[2] monthly to find their dream home. PropertyGuru empowers property seekers with more than 2.1 million real estate listings[3], in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand and Vietnam.

PropertyGuru.com.sg was launched in Singapore in 2007 and since then, PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 17 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio including leading property marketplaces and award-winning mobile apps across its core markets; mortgage marketplace, PropertyGuru Finance; home services platform, Sendhelper; a host of proprietary enterprise solutions under PropertyGuru For Business including DataSense, ValueNet, Awards, events and publications across Asia.

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn.

[1] Based on Google Analytics data between January 2024 and June 2024.

[2] Based on data between April 2024 and June 2024.

[3] Based on data between January 2024 and June 2024.

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EQT Exeter acquires two UK warehouses in Milton Keynes and Dartford

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eqt

Transaction comprises two fully-leased, strategically located logistics assets in Milton Keynes and Dartford, totaling approximately 650,000 square feet

This acquisition reinforces EQT Exeter’s commitment to investing in well-located, high-quality logistics properties that address occupier demand

The assets align with EQT Exeter’s value-add investment strategy, including lease-up initiatives and sustainability enhancements to future-proof the properties

EQT Exeter, a leading global real estate investment manager, today announced that the EQT Exeter European Logistics Value Fund IV (“EQT Exeter”) has acquired two prime logistics properties in Milton Keynes and Dartford from M&G Real Estate. The total transaction price is in excess of GBP 100 million.

In Milton Keynes, the 320,000 square foot warehouse is 100% let to DS Smith Corrugated Packaging while the Dartford asset totals 334,000 square feet fully let to Asda Stores. These key South East logistics hubs offer excellent access to major transportation networks, supporting critical regional distribution operations and fulfilling EQT Exeter’s focus on high-demand logistics markets fueled by robust e-commerce growth and evolving supply chain needs.

Additionally, the transaction aligns with EQT Exeter’s value creation investment strategy via energy efficiency upgrades which will contribute to decarbonization and compliance with future regulatory standards, delivering long-term value for stakeholders.

Jonathan Mackie, Director of UK Acquisitions and Leasing at EQT Exeter, said: “We are excited to add these two high-quality logistics assets to our portfolio. Their strategic locations attract robust big box occupier profiles proving the critical nature of these UK logistics submarkets. EQT Exeter’s operational expertise and focus on sustainability will aim to unlock further potential for these properties, ensuring they meet the evolving needs of our occupiers and investors alike.”

EQT Exeter was advised by ACRE Capital Real Estate (commercial), Charles Russell Speechlys (legal), Epsilon Environmental (environmental) and Black Cat Consultancy (tech).

Contact
EQT Press Office, press@eqtpartners.com

About

About EQT Exeter
EQT Exeter is a global real estate investment manager with over $30 billion of equity under management. EQT Exeter acquires, develops, leases, and manages logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. With over 450 experienced professionals operating in more than 50 offices globally, EQT Exeter owns and operates over 2,000 properties and 375 million square feet. EQT Exeter’s track record comprises over $45 billion in total property gross asset value since inception, spanning over 450 million square feet globally. EQT Exeter is the real estate division of EQT AB, a purpose-driven global investment organization.

More info: https://eqtexeter.com/
Follow EQT Exeter on LinkedIn

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Blackstone Announces Acquisition of Tokyo Garden Terrace Kioicho, Japan’s Largest Ever Real Estate Investment by a Foreign Investor

Blackstone

TOKYO – December 12, 2024 – Blackstone (NYSE: BX), the world’s leading alternative investment firm, today announced that Real Estate funds managed by Blackstone (“Blackstone”) have entered into definitive agreements to acquire Tokyo Garden Terrace Kioicho, an acclaimed 2.4 million square feet of mixed-use asset, from affiliates of Seibu Holdings. At $2.6 billion (around JPY 400 billion), this marks the largest real estate investment by a foreign investor in Japan and the firm’s largest investment to date across businesses in the market.

Located in central Tokyo, Tokyo Garden Terrace Kioicho comprises two high-rise towers consisting of a Grade A+ office, which is currently 100% occupied; 135 high-end residential units; a 250-key luxury hotel; conference and wedding venues; and over 30 cafes and restaurants, and goods and services stores.

Chris Heady, Chairman of Asia Pacific and Head of Real Estate Asia, Blackstone, said: “This is a landmark opportunity to acquire a trophy Tokyo asset from one of Japan’s most respected corporations, Seibu Holdings. Japan is one of our most important markets globally, where we have acquired $16 billion of real estate assets since 2013. This transaction represents our conviction in Japan and the deep partnerships we’ve built with leading Japanese companies like Seibu.”

Daisuke Kitta, Head of Real Estate Japan, Blackstone, said: “We are thrilled to partner with Seibu and add this prime, mixed-use property to our real estate portfolio in Japan. Japan has entered a new era of corporates seeking to partner with trusted groups like Blackstone to divest their assets for further growth. We are committed to mobilizing our strong local teams with insights and relationships, and our global real estate platform, to continue to support this asset for long-term success.”

Ryuichiro Nishiyama, President and Representative Director, COO, Seibu Holdings, said: “Blackstone has provided a proposal that will contribute to further growth and development of the asset, and a valuation that reflects its strength. In the future, the Seibu Group companies will continue to be involved in the management of the asset, which includes undertaking the asset management business and hotel management business, and will provide even more attractive new value in Kioicho based on a long-term and strong partnership with Blackstone.”

Blackstone is a leading investor in Japan. The firm has built a diversified real estate portfolio in Japan across its global high conviction investment themes including hotels, rental housing, logistics, and data centers.

For more than 17 years, Blackstone has been a trusted partner to Japanese companies looking to divest their businesses and assets for continued growth. Its notable carveouts include: the acquisition of an eight-hotel portfolio from Kintetsu Group and a logistics portfolio from Daiwa House; in private equity, investments in Sony Payment Services with Sony Group, the consumer healthcare unit (renamed Alinamin Pharmaceutical) from Takeda Pharmaceutical, and Infocom from Teijin.

Blackstone Real Estate 
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US$325 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Media Contact
Mariko Sanchanta
mariko.sanchanta@blackstone.com
+852 9012 5314

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Ardian strengthens its self-storage platform in France, by acquiring Atout-Box, the leading self-storage company in the Occitanie region

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Ardian

Ardian, a world-leading private investment house, today announces the acquisition of Atout-Box, the leading self-storage company in the Occitanie region. The acquisition is part of Ardian’s strategy of creating a property platform dedicated to self-storage.

Atout-Box was founded in 2010 with a first site in Montpellier of c.1,600sqm. Today, the company owns 7 storage centers representing around 40,000sqm with thirty employees. In addition to its core self-storage business, Atout-Box has also developed complementary services such coworking spaces, daily van hire and dedicated areas for delivering heavy goods.

Atout-Box is experiencing strong growth, driven by the increasing demand for storage among private individuals, particularly during major life events. With the support of Ardian, which will draw on its deep experience in acquisitions and asset management, Atout-Box will continue its nationwide geographic expansion as it acquires and develops further self-storage sites, to offer new locations to its customers.

The acquisition of Atout-Box strengthens Ardian’s self-storage platform, launched at the end of 2023 with the acquisition of Costockage. The portfolio now comprises 19 centers across several regions, including Ile de France, Occitanie, Auvergne-Rhône-Alpes, Bretagne, Provence-Alpes-Côte d’Azur and Hauts-de France. Ardian plans to continue its acquisition strategy in this developing property sector to meet the increasing demand from private individuals and professionals for storage space.

“The acquisition of Atout-Box represents a major step forward in the strategic development of our self-storage platform. Through its well-established centers and excellent operational expertise, Atout-Box has positioned itself as a key player in the south of France. We’re particularly impressed by its focus on customer satisfaction and the quality of its center management, which will be key to future growth. This integration strengthens our self-storage platform and we are confident that this rapidly expanding sector in France continues to demonstrate great potential.” Omar Fjer, Managing Director Real Estate, Ardian

“We’re delighted to be embarking on this new adventure with Ardian. Their experience in asset management and real estate will enable us to continue to expand throughout France and become a major player in the self-storage market. Our know-how in customer relations and expertise in the operational management of large-scale centers will help ensure this partnership is a success. True to our values and with our in-depth knowledge of the markets in which we operate, we are excited for the next stage in Atout-Box’s journey, as it continues to expand throughout France.” Jean-Baptiste Bertrand, Président, Atout-Box

List of participants

  • Ardian

    • M&A: Edmond de Rothschild
    • Legal: Lacourte Raquin Tatar
    • Notaries: Etude Attal
    • Tax law: Arsène Taxand
    • Social law: Daher
    • Data protection law: Taliens
    • Intellectual property law: Lighten
    • Financial due diligence: Oderis
    • Real estate technical due diligence: Théop
    • IT due diligence: Vaultinum
    • Environmental due diligence: Axa Climate

  • Sellers

    • M&A: CIC Conseil
    • Legal: Fairway Avocats
    • Financial due diligence: Deloitte
    • Notary: Victor Vendrell
    • Senior Advisor: Faro Capital Partners

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $176bn of assets on behalf of more than 1,720 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

Media Contacts

Ardian

Headland

ardian@headlandconsultancy.com

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Investcorp Expands U.S. Student Housing Portfolio with Four Acquisitions at Flagship Universities

Investcorp

Investcorp, a leading global alternative investment firm, today announced that it has completed four student housing acquisitions totaling nearly 3,000 beds for a gross transaction cost of over $300 million. The investments strengthen Investcorp’s student housing presence in key college markets and advances the firm’s strategy to build a diversified portfolio of off-campus housing at flagship state universities across the country. The acquisitions include:

  • A 792-bed, 99%-occupied property at Texas A&M University in College Station, Texas;
  • A 486-bed, 98%-occupied property at Texas State University in San Marcos, Texas;
  • A 699-bed, 96%-occupied property at the University of Kentucky in Lexington, Kentucky; and
  • A 684-bed, 99%-occupied property at the University of Oklahoma in Norman, Oklahoma.

“The student housing sector continues to perform well, and we believe the robust fundamentals of this asset class will translate into strong performance and compelling risk-adjusted returns for investors,” said Michael O’Brien, Global Co-Head of Real Assets for Investcorp. “Many of the top university markets face shortages of housing, and when combined with growing enrollment, this creates favorable operating dynamics which support our long-term conviction in the asset class. These dynamics are helping to drive sustained and rising demand that reinforces our long-term conviction in the asset class.”

Nationally, the student housing sector has seen strong performance this academic year, with steady tenant demand and rent growth averaging nearly 5% across the top 200 university markets, which is above the long-term average, according to Yardi. In addition, high interest rates, disrupted capital markets, and land scarcity near major universities have contributed to a significant slowdown in new construction, which is expected to sustain favorable supply/demand dynamics and stable long-term cash flows.

Ryan Bassett, Investcorp’s Head of US Residential Acquisitions, stated, “This portfolio was aggregated in four individual transactions and underscores Investcorp’s ability to target stable assets located at the best large public universities in the US. We have developed robust business plans for each asset to improve the properties over time, and have long-term conviction in each university’s continued enrollment growth.”

Investcorp has deep experience in the student housing sector, having owned and managed approximately 20,000 beds across roughly 30 investments. The firm’s US real estate strategy invests primarily in the industrial and residential sectors, which collectively represent 98% of the firm’s US real estate portfolio. In 2024, the Investcorp real estate team ranked 51 on PERE’s PERE 100, one of the most prominent rankings of real estate equity investment managers in the industry. Since 1996, Investcorp Real Estate has acquired approximately 1,400 properties for a total value of over $26 billion and currently has approximately $11.2 billion in global real estate assets under management.

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Partners Group agrees to acquire real estate platform Empira Group

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Partners Group

Baar-Zug, Switzerland; 3 December 2024

  • Empira Group has a EUR 14 billion Gross Development Value portfolio of European and US residential property
  • The transaction advances Partners Group’s real estate acquisition strategy of enhancing vertical depth in key sectors
  • The acquisition comes at a pivotal moment for the real estate industry where future performance depends on operational excellence

Partners Group, one of the largest firms in the global private markets industry, has agreed to acquire Empira Group, a premier real estate investment platform. The transaction will enhance Partners Group’s position as a global real estate investor and support its ambitious growth plans as the asset class enters a new paradigm for investing. The acquisition is anticipated to close in H1 2025, subject to customary closing conditions and regulatory approvals; it is not expected to have a material impact on Partners Group’s financial results in 2025.[1]

Founded in 2014 and headquartered in Switzerland, Empira Group is one of the most respected vertically integrated real estate investment managers focused on the residential sector, with a portfolio with a Gross Development Value[2] of around EUR 14 billion. Empira Group’s investment strategies include European residential; US residential; transition-to-green, which involves creating value through sustainability initiatives; and real estate credit. Within its real estate credit segment, Empira Group offers a range of financing solutions, including senior and junior loans, whole-loan and mezzanine financing, preferred equity, and joint venture opportunities. With over 250 employees across 13 global offices, Empira Group leverages its in-house expertise to create value across the real estate life cycle – from sourcing, investment, and development to fund management and property operations. Following the acquisition, Empira Group will continue to operate under its existing brand as part of Partners Group, with the ambition to become a pan-European platform.

The transaction comes at an inflection point for the global real estate industry, as the asset class moves beyond traditional asset management to focus on transformational investing and operational excellence to generate attractive returns for clients. In line with this industry shift, Partners Group has devised a real estate acquisition strategy that seeks to amplify its vertical depth in high-conviction sectors, such as residential and logistics, through select investments in high-performing specialist fund managers and operators.

Empira Group’s investment strategy closely aligns with Partners Group’s focus on the two Giga Themes of New Living and Decarbonization & Sustainability, and in particular the revolutionary shifts in residential demand caused by factors including migration, hybrid working, undersupply of affordable, high-quality rental properties for “Generation Rent”, and increased emphasis on sustainability and energy efficiency. These trends have focused Partners Group around the high-conviction strategies of lifestyle residential, urban living, affordable housing, and transition-to-green, all of which are operationally intensive themes requiring hands-on management. With this transaction, Empira will give Partners Group access to wider and more granular sector coverage, proprietary transactions, and enhanced operating substance through its established capabilities. The terms of the transaction remain undisclosed.

Karim Habra, Global Co-Head Real Estate, Partners Group, says: “This strategic acquisition supports Partners Group’s long-term growth in real estate and brings Empira Group’s operational expertise to our established global investment platform at a pivotal moment for the real estate industry. The significant development and operator skills gained from this acquisition position Partners Group to lead in this evolving landscape, moving beyond traditional ownership strategies to embrace a new era of asset transformation and innovation. We are delighted to welcome Lahcen Knapp and the wider Empira team to Partners Group.”

Lahcen Knapp, Founder and Chairman, Empira Group, states: “Empira Group’s investment focus and entrepreneurial spirit is strongly aligned with that of Partners Group. We believe the combination of our expertise and resources with Partners Group’s powerful private markets platform will enable us to better source, build, and manage residential real estate for a new era. Together, we will find innovative solutions to capitalize on the broad secular growth trends driving the asset class. This acquisition marks a new chapter in Empira’s history, at a time when the industry requires a renewed focus on operational depth.”

Partners Group’s acquisition of Empira Group follows earlier strategic investments in Trinity Investments, a US-based hospitality-focused real estate investor, in April 2024, and Citivale, a UK-based logistics real estate developer and asset manager, in February 2024. Partners Group’s Real Estate business has a global portfolio with a total Gross Asset Value[3] of USD 43 billion and USD 15.9 billion in Assets under Management[4].

[1] Empira will be recognized in Partners Group’s Assets under Management (AuM) numbers and guidance once closing has taken place.

[2] Gross Development Value is a metric showing the estimated market value that a property or development is expected to have once it is completed and either sold or rented out. Gross Development Value must not be mistaken for AuM.

[3] Gross Asset Value is a metric that is used to describe the current market value of all assets held within a real estate portfolio, without deducting debt. Figure as of 30 September 2024.

[4] AuM is an Alternative Performance Metric (APM). A description of the APMs can be found in Partners Group’s Interim Report 2024 (p.22 & 23), available for download at http://www.partnersgroup.com/en/shareholders/reports-presentations/. Figure as of 30 June 2024.

About Partners Group
Partners Group is one of the largest firms in the global private markets industry, with around 1’800 professionals and approximately USD 150 billion in overall assets under management. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, and royalties. With its heritage in Switzerland and primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to transform businesses and assets into market leaders. For more information, please visit www.partnersgroup.com or follow us on LinkedIn.

About Empira Group

Empira Group is a leading player in alternative investments across Europe and the US, with a portfolio with a Gross Development Value of around EUR 14 billion. It offers institutional investors a vertically integrated platform for participation and financing solutions, and its real estate and capital market specialists have expertise across the entire residential and office real estate value chain. With its headquarters in Zug, Switzerland, and offices in Germany, Luxembourg, the US, the UK, Sweden and Austria, it is well-positioned to serve its clients’ needs globally.

Shareholder relations contact
Philip Sauer
Phone: +41 41 784 66 60
Email: philip.sauer@partnersgroup.com

Media relations contact
Alec Zimmermann
Phone: +41 41 784 69 68
Email: alec.zimmermann@partnersgroup.com

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EQT Exeter To Acquire More Than One Million Square Feet of Class A Bulk Distribution Buildings in the Napa Valley Region of California

Bulk distribution buildings offer premier access to Northern California’s major metros and Western U.S., and are purpose-built to meet the needs of both logistics operators and specialized food and beverage tenants

Properties offer ample leasing opportunities and are well-positioned to attract top-tier tenants, with the potential to incorporate temperature-controlled enhancements that meet a variety of specialized operational needs

With the close of this transaction, EQT Exeter has acquired more than 60 million square feet of logistics properties for a total transaction volume of $8 billion over the last 12 months

 

EQT Exeter, a leading global real estate investment manager, is pleased to announce that the EQT Exeter Industrial Value Fund VI (“EQT Exeter”) has acquired two state-of-the-art bulk distribution buildings (collectively “the Properties”), located in the heart of Napa Valley’s iconic “Wine Country.” The Properties reflect EQT Exeter’s commitment to acquiring and enhancing high-caliber industrial buildings in top-tier logistics hubs.

Spanning over one million square feet, the Properties combine best-in-class building specifications with a premier location, offering seamless connectivity to the major metros of San Francisco, Sacramento, and San Jose, as well as the entirety of the western United States. Purposefully designed to support Northern California’s thriving food and beverage industry, these bulk distribution properties offer unparalleled proximity to the region’s consumer base and production hubs, and feature advanced building and site designs that accommodate both traditional logistics users and specialized operators. Notably, one of the buildings boasts direct rail access, an exceptional feature for real estate of this caliber. EQT Exeter is poised to collaborate with top-tier tenants to implement bespoke enhancements, ensuring the facilities meet the evolving demands for temperature-controlled spaces.

The Properties are currently home to a leading food and beverage operator occupying 337,000 square feet under a lease exceeding 10 years of lease term—a clear testament to the buildings’ strategic value and quality. This established tenancy underscores the alignment between EQT Exeter’s rigorous standards and the needs of industry leaders.

EQT Exeter’s local office, well-positioned to serve Napa Valley and the broader Northern California market, will leverage deep area relationships to ensure these Properties remain central to the region’s industrial ecosystem.

“EQT Exeter is committed to delivering spaces that not only meet the complex needs of today’s industrial and logistics users, but anticipate the evolving demands and growth ambitions of a variety of tenants, ” said Jeremy Hamaoui, Northern California Investment and Leasing Officer at EQT Exeter. “This acquisition reflects our ongoing strategy of investing behind high-quality properties in attractive markets while maintaining a tenant-focused approach to asset management.”

EQT Exeter was advised by Ryan Sitov of JLL.

Contact

EQT Press Office, press@eqtpartners.com

 

About

About EQT Exeter

EQT Exeter is a global real estate investment manager with over $30 billion of equity under management. EQT Exeter acquires, develops, leases, and manages logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. With over 450 experienced professionals operating in more than 50 offices globally, EQT Exeter owns and operates over 2,000 properties and 375 million square feet. EQT Exeter’s track record comprises over $45 billion in total property gross asset value since inception, spanning over 450 million square feet globally. EQT Exeter is the real estate division of EQT AB, a purpose-driven global investment organization.

More info: https://eqtexeter.com/

Follow EQT Exeter on LinkedIn

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Texas Tower Secures New Leases Totaling 182,600 square feet

Cdpq
Six prominent firms join Texas Tower’s robust tenant roster, bringing building to 94% leased

Co-developer and global real estate firm, Hines, and the global real estate group of CDPQ, Ivanhoé Cambridge, today announced that Texas Tower is now 94% leased. Sable Offshore Corp, Moelis & Company, Sheppard Mullin, Squarepoint Capital and two confidential tenants have signed leases totaling 182,600 square feet at the 47-story, one-million-square-foot, Class AA office tower in downtown Houston.

“A couple years back, we started to formalize the concept of magnet office; identifying the intersection of exceptional design, location, and unparalleled amenities, attracting tenants who demand a workplace that elevates both their brand and employee experience,” said John Mooz, Senior Managing Director at Hines. “There is a clear delineation with the most discerning tenants seeking an unparalleled work environment. The unique combination of world-class amenities—including access to green space and sky atriums saturated with natural light—creates a dynamic space that better fosters collaboration and innovation.”

“Texas Tower underscores our strategic investment focus on the evolving office market in the United States,” said Michael Caracciolo, Managing Director, Real Estate, United States at Ivanhoé Cambridge. “Its prime location, exceptional sustainability credentials, and hospitality-centric services continue to attract top-tier tenants. Texas Tower exemplifies our commitment to the future of work, offering tenants scalable solutions through activated common areas, furnished suites, and flexible workspaces.”

Houston-based independent upstream company Sable Offshore Corp has secured 46,000 square feet on levels 28 and 29, with the lease beginning in the third quarter of 2025. Lease negotiations were facilitated by tenant brokers Kevin Kushner, William Padon, and Sydnee Hilburn with CBRE, alongside landlord broker Michael Anderson with Cushman and Wakefield.

Moelis & Company, a leading global independent investment bank that provides innovative strategic advice and solutions to a diverse client base, has leased 30,400 square feet on level 22. The lease is set to commence in the fourth quarter of 2025. Cushman and Wakefield handled lease negotiations, with David Guion and Chris Oliver representing the tenant and Michael Anderson representing the landlord.

Sheppard Mullin, a full-service AmLaw 50 law firm with more than 1,100 attorneys in 16 offices around the globe, has leased 29,800 square feet on level 25 with occupancy beginning in the fourth quarter of 2025. Kevin Kushner, William Padon and Sydnee Hilburn with CBRE represented the tenant in lease negotiations, while Michael Anderson with Cushman and Wakefield acted as the landlord’s broker.

A confidential tenant has secured 8,300 square feet on level 39, with the lease set to commence in the fourth quarter of 2025. Kevin Saxe with CBRE represented the tenant in lease negotiations, alongside landlord broker Michael Anderson with Cushman and Wakefield.

Squarepoint Capital, a privately held quantitative investment management firm, will take 8,200 square feet on level 18. The lease is scheduled to start in the third quarter of 2025. Lease negotiations were facilitated by Nick Bockhorn with CBRE as the tenant’s broker, alongside landlord broker Michael Anderson with Cushman and Wakefield.

Texas Tower’s current tenants include Hines, Vinson and Elkins, Clifford Chance, McGuireWoods and DLA Piper law firms. Other confirmed tenants include Cheniere Energy, Inc., Chicago Title, Charter Title Company, Morgan Stanley, a trading company and a confidential tenant. Additionally, The Square at Texas Tower now stands over 98% occupied.

For more information, including leasing details, visit texastower.com

About Hines

Hines is a leading global real estate investment manager. We own and operate $93.0 billion1 of assets across property types and on behalf of a diverse group of institutional and private wealth clients. Every day, our 5,000 employees in 31 countries draw on our 67-year history to build the world forward by investing in, developing, and managing some of the world’s best real estate. To learn more, visit www.hines.com and follow @Hines on social media.

¹ Includes both the global Hines organization and RIA AUM as of June 30, 2024.

About Ivanhoé Cambridge

Ivanhoé Cambridge, the real estate portfolio of CDPQ, a global investment group with C$ 452 billion in assets, is built worldwide through strategic partnerships and market leading real estate funds. CDPQ holds interests in more than 1,500 buildings, primarily in the logistics, residential, office and retail sectors. As of December 31, 2023, it held C$ 77 billion in gross real estate assets.

Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies around the world. It does so responsibly and is committed to creating living spaces that foster the well-being of people and communities, while reducing their environmental footprint.

For more information:  cdpq.com / ivanhoecambridge.com

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Ardian acquires 9.500sqm value-add office building in prime location in Berlin-Mitte

Ardian

Ardian, a world-leading private investment house, today announced it has signed an agreement to acquire an office building located close to the listed Lützowplatz square between Berlin City-West and Berlin-Mitte, the two most sought-after office submarkets in Berlin. It represents one of the largest office transactions in the value-add segment Berlin in 2024.

The building was comprehensively renovated in 2001 and offers currently c. 9.500sqm of lettable space over 9 stories of which c. 80% is rented. Ardian aims to invest a double digit million Euro sum to fully modernize and carefully densify the project. In course of the refurbishment, Ardian will upgrade the asset’s ESG footprint to meet modern standards, supporting the climate goals of the Paris Climate Agreement. Furthermore, Ardian will add various amenities to the project to increase the attractiveness of the building.

“We are pleased to announce the purchase of this office project as it is testament to a starting comeback of value-add office space transactions in Berlin, a market segment that has been rather quiet in the past three years. At this prime location in Berlin-Mitte, we are planning a comprehensive repositioning with a particular focus on quality and sustainability. We are convinced that these factors – quality, location and sustainability – will remain key drivers of the rental and investment market in the future, and we therefore continue to seize opportunities in office buildings as an asset class.” Nico Rheims, Managing Director Real Estate, Ardian

Ardian was advised in the transaction by Arup, BNP Real Estate, Clifford Chance, KVL and Taxess.

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $169bn of assets on behalf of more than 1,680 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.

ardian.com

Media contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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