CRE Herald’s top 10 commercial real estate news stories in February

CRE Herald’s top 10 global commercial real estate (CRE) market news stories for the month.

Canada’s largest pension fund CEO resigns after COVID-19 vaccine travel

Mark Machin, the CEO of Canada’s largest pension fund CPP Investments, has resigned due to mounting criticism after it was revealed that he travelled to the United Arab Emirates, where he received a COVID-19 vaccine.

Aldi to open 100 new stores in U.S this year

Supermarket giant Aldi announced that it will open approximately 100 new stores in the U.S. in 2021 with a focus on Arizona, California, Florida and the Northeast.

CBRE invests $200m in flexible workplace firm Industrious

CBRE Group, Inc. has acquired a 35 percent interest in Industrious, a provider of flexible workplace solutions in the U.S.

Greystar closes Australia multifamily fund at A$1.3bn

Greystar Real Estate Partners has raised A$1.3 billion for its Australian investment vehicle, Greystar Australia Multifamily Venture I (GAMV I), to invest in build-to-rent assets.

BentallGreenOak to acquire Metropolitan Real Estate from Carlyle

BentallGreenOak has signed an agreement to acquire Metropolitan Real Estate Equity, LLC (Metropolitan) from global investment firm The Carlyle Group Inc.

Morgan Properties, Olayan America buy massive multifamily portfolio for $1.75bn

Morgan Properties and Olayan America have acquired a portfolio of 48 apartment communities and 14,414 units in 11 states for $1.75 billion.

Artemis acquires 10-property medical office portfolio

Artemis Real Estate Partners has purchased a 10-property, Class A medical office portfolio totaling 270,831 square feet in seven states across the U.S.

Top destinations for Asian outbound real estate investment in 2020

Singapore topped Asian outbound real estate investment for the third consecutive year, accounting for US$12.1 billion worth of deals in 2020 – albeit reflecting an approximate 31% y-o-y decline from US$17 billion registered in 2019, according to new data published by CBRE.

Link REIT buys 50% interest in Shanghai shopping mall for $429m

Hong Kong-listed Link Real Estate Investment Trust (Link REIT) announced Wednesday that it has agreed to acquire 50% interest in Qibao Vanke Plaza, a shopping mall in Shanghai, for RMB 2,772 million (HK$3,325 million, appr.US$429m).

Castellum sells 53 properties to Blackstone

Sweden-based real estate company Castellum announced Wednesday that it has agreed to sell a further 53 warehouse/logistics properties to real estate funds managed by Blackstone for net proceeds of SEK 4.8 billion (appr. €476.1m).

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