Prologis and GIC have established a $1.6 billion joint venture to develop build-to-suit logistics facilities across the United States. The partnership starts with a 4.1 million square foot portfolio and aims to meet rising demand for custom distribution centres. By combining GIC's institutional capital with the development expertise of Prologis, the venture targets long-term growth in the North American industrial sector.
OpenAI has secured a significant long-term lease for the entire 350-380 Ellis office campus in Mountain View. The deal involves a 450,000 square foot Class A property owned by KKR Real Estate Finance Trust Inc. and TMG Partners. Following a major renovation to modernise the five-building site, the AI giant will move into the heart of Silicon Valley to support its rapid growth and operational scaling.
Marriott International is expanding its midscale presence in Europe through the debut of its Series by Marriott brand. The launch involves 11 new projects across the United Kingdom and Italy in partnership with Splendid Hospitality Group and Amapa Group. This move follows the global introduction of the collection brand in 2025. The new properties will focus on providing reliable and locally inspired accommodation for modern travellers.
SLP has officially broken ground on SLP Park Tien Du, a major ready-built factory development in Bac Ninh province. This project marks the eighth venture for the industrial developer in Vietnam. Situated within the Dai Dong Hoan Son Industrial Park, the facility will provide over 74,000 square metres of Grade-A space. The development is designed to meet growing demand for operational-ready infrastructure amongst global manufacturers.
Realty Income and Apollo have entered a $1.0 billion strategic partnership. Apollo will acquire a 49 per cent stake in a joint venture featuring 500 US retail properties. This deal forms the cornerstone of Realty Income’s new private capital initiative, providing a scalable source of equity independent of public markets. The arrangement has received permanent equity treatment from major rating agencies and is scheduled to close at the end of March.
Hyatt has opened Masana Algarve, the first Destination by Hyatt resort in Portugal. Located in Albufeira, the property features 33 high-end residences designed for coastal living. The launch is part of Hyatt’s goal to triple its Portuguese presence by 2027. The resort offers residents and guests upscale dining, a holistic spa and proximity to the region’s iconic cliffs and traditional fishing heritage.
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