Starwood Capital Group has completed the final closing of its latest global opportunistic real estate fund, Starwood Distressed Opportunity Fund XIII, securing over $10.2 billion in capital commitments. Supported by more than 300 institutional and private investors across 20 countries, the fund has already deployed $3 billion into data centers, housing and industrial assets across the US, Europe and Asia.
Real estate services firm Cushman and Wakefield has completed the 12.25 million USD sale of Monon and Main in Carmel, Indiana. Trading at 354 USD per square foot, the 34,650-square-foot mixed-use property has set a new record for office sales in the state. The four-story boutique building was entirely leased at the time of the transaction.
Global property leader Greystar has finalized the closing of its second pan-European value-add residential fund at over €2.7 billion. The pool of capital represents the largest of its type ever raised for the continent's rental sector. Backed by institutional investors, the vehicle equips the firm with an investment capacity exceeding €6.8 billion to target structural housing shortages across major European cities.
Vinhomes has launched a five-year scheme alongside gold and silver companies to help clients convert idle gold into cash to purchase properties. Buyers can later opt to keep the real estate or receive 110% of their converted gold value. The initiative aims to mobilize capital while supporting Vinhomes as it targets a record revenue growth of over 15% this year.
City Developments Limited has launched a S$2 billion multicurrency perpetual securities issuance programme. The Singapore-based property giant appointed United Overseas Bank Limited to manage the scheme as arranger and dealer. Funds raised through the programme will be used to support the group's general working capital needs and to refinance its current debts. The securities will be offered primarily to institutional and accredited investors in Singapore.
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