The Toronto-based alternative asset manager will now expand its product offerings stateside following the take-private transaction.
The Canadian pension investor’s expansion efforts including doubling its lending book in the coming years.
The private equity firms’ large bet on the hotel owner and operator speaks to the faster-than-expected rebound in the sector, but its pricing remains a point of contention.
The New York-based private equity firm’s CIREP V marks the second higher-risk, higher-return property fund closing to be announced in a week.
Martin McGann, finance director of the UK logistics REIT, says the company’s latest financing diversifies its funding sources and provides long-dated capital.
Consultant RCLCO told the $280bn pension it should consider increasing leverage, value-add strategies and construction in anticipation of a market reset.
The higher returning strategy raised only $35.4bn, but the average fund size hit an all-time high, according to PERE data.
The former Torchlight Investors partner has joined the real estate debt specialist as senior managing director and co-head of capital raising.
More than half of the capital for the California firm’s latest vehicle came from the region, much of it from first-time investors.
The former Torchlight Investors partner has joined the real estate debt specialist as senior managing director and co-head of capital raising.