core

With its $5.9bn take-private offer, the Toronto-based manager is calling it quits on a public market that never embraced its flagship real estate vehicle.

The Singaporean investment firm remains confident in the future of offices and has 22% of its AUM deployed into the asset class.

The sector has only been institutionalized in recent years but is bolstered by long-term e-commerce growth in the country.

The new capital for the vehicle, which has now reached $5.4bn in AUM, will be used to acquire three new assets from GLP Japan Development Venture II.

The firm will be the only industrial park developer participating in the country’s REIT program, where it plans to launch a 2 billion yuan vehicle.

As the pandemic sends city renters scrambling to the suburbs, the already popular property type is seeing even greater demand.

The firm has hired four investment bankers in the past two years to help fuel its growth in new strategies such as private equity and data centers.

The affordable housing-focused European Residential Income Fund II is the manager’s second European discretionary fund.

As retail and office sectors trend toward volatility, the steady returns of sale-and-leaseback strategies are becoming attractive fixed-income substitutes.

The industrial real estate heavyweight plans to grow the Japan-focused fund’s AUM from $2.6bn to more than $10bn in the next several years.