Princeton Equity Group closed Princeton Equity Partners III on September 29 with $1.3 billion in commitments, exceeding its $875 million target. Lazard served as exclusive placement agent and Proskauer Rose as legal counsel.
Ares Industrial Real Estate Income Trust, Ares Real Estate Income Trust and Invesco Real Estate Income Trust raised $692M gross proceeds in Q3 while fulfilling $117M in redemption requests.
Alex Leung, former head of infrastructure research and strategy at UBS Asset Management, has joined KKR as head of infrastructure thought leadership after eight years at UBS.
Tishman Speyer and Bouwinvest launched a separately managed account targeting core-plus and value-add U.S. office assets, with its first investment in the Chrysler Building ground lease. The affiliated Tishman Speyer office club holds about $700 million of equity, or $1.5 billion of purchasing power.
Rexford Industrial Realty sold 25 properties totaling 5.5 million square feet in Q3, including a $1.2 billion sale to EQT Real Estate. The REIT has sold $1.5 billion in properties this year under a $2 billion portfolio realignment strategy.
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