CBRE Global Investors has hired a managing director to help the firm seek out assets in which to invest on behalf of its Strategic Partners US team.
According to the Los Angeles-based global real estate investment firm, John Sauter has joined as a managing director for West Coast acquisitions for the Strategic Partners US team. In this newly-created position, Sauter will be responsible for originating, underwriting and structuring West Coast investments for the firm. He will also be responsible for developing new business opportunities.
Based out of the Los Angeles office, Sauter reports directly to Phil Hench, principal.
Prior to joining the firm, Sauter was a partner with the MSD Capital Real Estate Group, where he was responsible for sourcing, evaluating and executing transaction opportunities in traditional real estate private equity, public securities, real estate debt and corporate private equity.
The appointment of Sauter follows CBRE’s hiring of former JPMorgan executive Mahesh Katkar as a managing director within its Strategic Partners US unit in August. Katkar is involved with the sourcing, underwriting, structuring and management of new equity investments, capital markets activity and the development of new programme offerings and business opportunities.
CBRE is looking to raise $750 million for CBRE Strategic Partners US Value VI, according to documents from the San Diego City Employees' Retirement System. Through the value-added real estate vehicle, the firm intends to “purchase, reposition and sell institutional-quality properties in select US markets.”
As of this summer, CBRE had closed on $350 million of equity for the fund. In October, the firm purchased Tollway Plaza I & II in Dallas from Equity Office Properties Trust on behalf of Fund VI.