Institutional Real Estate

Morrison has agreed to become Japan’s Sumitomo Mitsui Trust Bank’s (SuMiTB) preferred global infrastructure manager as part of a $2 billion long-term strategic partnership. SuMiTB will make an initial $500 million commitment into Morrison’s global private market core-plus and value-add strategies as the first step in facilitating the deployment of broad-based Japanese capital into high-quality infrastructure opportunities worldwide.

A consortium led by TPG has agreed to acquire a 100 percent stake in Aseem Infrastructure Finance alongside co-investor partners GIC and ICICI Bank. TPG’s investment is being made through TPG Rise Climate, the firm’s dedicated climate investing platform, as part of its Global South Initiative, a strategy that was launched in partnership with ALTÉRRA to scale climate solutions across emerging markets.

BKM Capital Partners, a real estate fund manager and operator focused exclusively on small- and mid-bay light industrial properties across the United States, has acquired Carson Industrial Center in Carson, Calif., for $95 million. The 429,000-square-foot, multi-tenant campus sits on more than 20 acres in Los Angeles’ South Bay submarket and was purchased on behalf of BKM Industrial Value Fund III.

Asana Partners announced the firm has closed a partnership with Norges Bank Investment Management (NBIM) to form Asana Partners Strategic Partners I (APSP I). The new venture will invest in and operate high-quality core/core-plus neighborhood retail assets throughout the United States, including grocery-anchored centers, unanchored centers, street retail and mixed-use assets. APSP I launched with an equity commitment of $500 million from NBIM.

Csquare, Inc., a North American digital infrastructure platform backed by Brookfield, has launched an initial public offering of 50 million shares of its common stock. The initial public offering price is expected to be between $23 and $27 per share, and Csquare expects to receive gross proceeds of between $1.15 billion to $1.35 billion. Csquare provides carrier-neutral colocation and interconnection services that support the applications powering the modern economy.

Rithm Capital has secured $515 million in fixed-rate financing for 31 West 52nd Street, a 785,000-square-foot class A office tower in Midtown Manhattan’s Plaza District. Newmark Group, a commercial real estate advisor and service provider to large institutional investors, global corporations and other owners and occupiers, arranged the financing on behalf of Rithm Capital.

CenTrio, a portfolio company of QIC Infrastructure, has completed a $485 million comprehensive refinancing to support its next phase of growth. CenTrio delivers reliable, efficient, cost-effective heating, cooling and power through district energy networks, serving business districts, university and healthcare campuses, and high-density building areas. CenTrio said the oversubscribed transaction reflects strong investor confidence in the company’s model as a sustainable district energy provider.

Voya Financial has announced the expansion of private asset capabilities within its existing adviser managed accounts (AMA) program. These enhanced capabilities allow registered investment advisers (RIAs) to allocate to private market investments — including private equity, private credit and private real estate — within personalized, professionally managed portfolios for plan participants.

Bartholomew & Co. has announced its launch as an independent hybrid registered investment adviser (RIA), overseeing approximately $6 billion in client assets. The new RIA structure strengthens the firm’s operating platform and enhances its ability to serve clients while preserving the disciplined approach and personalized service that has defined Bartholomew & Company for more than three decades.

UHY has announced that it has combined with RBT CPAs, the largest certified public accounting firm in New York’s Hudson Valley. RBT, which has served the needs of businesses, individuals and nonprofit organizations for more than 55 years, brings a team of more than 175 professionals to UHY, including 23 partners. The firm offers a comprehensive suite of services, including audit, tax, consulting, wealth management and transaction advisory services.