The UK asset manager has acquired a majority stake in BauMont Real Estate Capital to diversify into higher-returning real estate.
Five years after shifting away from the sector, the investor has partnered with manager DivcoWest to take advantage of 'current dislocation.'
The investor’s newly formed international team has partnered with Delancey to invest £1bn in the UK, with London offices as the initial focus.
The firm has acquired three offices under the core strategy in Singapore, Sydney and Seoul since it was launched in 2018.
The £500m commitment to a joint venture with Kennedy Wilson represents the Canadian pension plan’s first foray into SFR in Europe and a chance to 'really go at scale' in the sector.
The deal includes a separate $200m seed investment by the UK pension investor, which cited growing institutional interest in US multifamily and logistics assets and decarbonization initiatives.
During Expo Real in Munich last week, executives tempered hopes of a market recovery citing the influence of geopolitical events on capital flows and investments.
IPI was founded in 2016 as a joint venture between Iconiq and Iron Point.
The acquisition – which includes GCP assets in Japan, Brazil and the US – will nearly double Ares’ real estate assets under management.
The Munich-based multifamily office has hired Cord Ernst to run the North American division and struck its first deal in the region.