Industry News

Gerald D Hines, founder and chairman of real estate firm Hines, died on 23 August, at age 95. The news was announced by his son, Jeffrey C Hines, who has been running the firm as president, and now assumes the role of chairman and CEO of the Hines company. “Beyond his significant, impactful career and his pioneering contributions to architecture, sustainability and the built environment, Dad felt his greatest achievement is the team of dedicated professionals who have and will...

Mark Carney, the former governor of the Bank of England has joined the asset manager as vice-chair and head of environment, social and governance and impact fund investing. Brookfield said Carney will help push the firm’s renewable investing efforts to combine better long-term outcomes for society with strong risk-adjusted returns. He will expand on Brookfield’s existing strengths in ESG investing with the development of a group of funds that will work to combine positive social and environmental outcomes with strong...

Bouwinvest Real Estate Investors intends to invest a further $350m (€300m) in North America in the next two years and has appointed Bert van den Hoek to lead its new international office in New York. Senior portfolio manager Van den Hoek, who joined Bouwinvest at the beginning of this year, will lead the company’s effort to grow the firm’s $1.65bn North America investments to $2bn at the end of 2022. Bouwinvest has been active in North America since 2010. Van...

PGIM Real Estate has so far raised 35% of a £1bn (€1.1m) fundraising target set for its latest European debt vehicle, according to one investor. Pennsylvania Public School Employees’ Retirement System (PSERS) said in a meeting document that it has approved a $125m commitment to the PGIM Real Estate Capital (PRECap) VII, a fund which has so far raised £350m. PGIM raised more than £1bn for the predecessor fund in April 2017. The fund manager is expected to make a...

CBRE Global Investment Partners (CBRE GIP) and IC Netherlands (IC NL) have bought 429 apartments in Amsterdam. The investors, via their Dutch Urban Living Venture (DULV) partnership, have paid an undisclosed amount to buy the recently completed residential element of the Don Bosco scheme. DULV invests in newly built urban young professional accommodation in the Netherlands through forward funding turnkey purchase contracts. Alexander van Riel, head of continental Europe investments, CBRE GIP, said: “The growing demand for rental housing in...