PERE

Empira Group has launched a new closed-end core-plus fund targeting German residential assets, anchored by a €158 million commitment from UBS . The Zug-based manager is targeting €350 million in equity over 18 months, with Partners Group contributing an additional €10 million to bring total equity raised to €168 million at launch. The manage-to-core strategy will focus on midsize multifamily assets across Germany's A-tier cities and select B- and C-tier markets, targeting properties of 80 to 150 units at an average equity ticket of €15 million to €30 million per asset. Empira's global head of client solutions Jorge Veiga Juiz, CFA, MBA points to a compelling entry point, noting existing assets can be acquired at roughly a third of replacement cost in select markets. Read the full story on PERE: https://okt.to/xY4KDC #PrivateRealEstate

📉 In a more uncertain market, relying on yield compression alone can leave hospitality investors exposed. John Calvao, co-founder and head of real estate and hospitality at Arrow Global Group, explains why value-add strategies can offer a different kind of downside protection. By improving an asset through capex, repositioning or operational work, investors can create value that is less dependent on market timing alone. For Calvao, the aim is to leave the asset in a stronger position than when it was acquired. 🏨 Listen to the full episode: https://okt.to/BlXbvK

Stoneshield just set a new record for Southern European real estate fundraising. The Luxembourg-based manager closed Stoneshield Opportunity Fund IV at its €1.5 billion hard cap in less than six months on the road, making it the largest-ever real estate fund focused on Southern Europe to reach a final close. 100% of Fund III investors re-upped for Fund IV, with demand exceeding the hard cap by approximately €1 billion. The capital base spans North America, Europe, the Middle East and Asia-Pacific, with commitments from pension funds, endowments, sovereign wealth funds and insurance companies. Co-founder Juan Pepa points to the region's economic growth as a key driver of investor appetite: "It is easier to create attractive risk-adjusted returns in markets that are growing, institutionalizing and attracting capital." Read the full story: https://okt.to/XYHCUa #PrivateRealEstate

Sale-leasebacks are gaining momentum as capital tightens Real estate is becoming a strategic funding tool, not just an operating asset. Rising refinancing needs, M&A activity, and higher borrowing costs are driving companies to unlock capital through sale-leasebacks. In many cases, the structure is proving more cost-effective than traditional debt, particularly in the mid-market, while allowing businesses to retain control of mission-critical assets. At the same time, investor demand remains strong, supported by the appeal of long-duration income and exposure to corporate credit. With a growing debt maturity wall and renewed dealmaking activity, sale-leasebacks are becoming a key lever in capital allocation strategies across private markets. Read more: https://okt.to/CkYEH5 #PERE

🚨Less than 1 week till #PERESeoulForum 2026! 🚨 Part of #PEREJapanKoreaWeek, Korea’s largest real estate gathering kicks off June 2, at the Conrad Hotel. Here is a quick snippet of our interview featuring Brian Hung (APG Asset Management) on why major allocators are targeting developed APAC markets like South Korea. Watch the full deep-dive interview on YouTube: https://okt.to/oDg8c1 The live conversation continues next week! As APG’s @Dominic Doran will be joining our morning Keynote Panel to discuss macro volatility and fund investment structures at PERE Seoul Last chance to network with 200+ of Korea's most active institutional investors (outnumbering managers 1.5:1) 👉 Buy your ticket here: https://okt.to/DYRtpA #PERE #PrivateRealEstateDebt #APACInvestments

🏨 Cheap deals are harder to find in European hospitality, which is changing where value-add returns come from. John Calvao, co-founder and head of real estate and hospitality at Arrow Global Group, explains why investors need to look beyond entry price and focus on what they can actively improve. That could mean converting hotels, refurbishing assets, managing capex risk and timing projects well. In a more competitive market, returns are increasingly shaped by the work investors are prepared to do. 🛠️ Listen to the full episode: https://okt.to/xpfO9B

⏳ #PEREJapanKoreaWeek is almost here!⏳ From 2-5 June, the region's biggest senior investors and fund managers will meet across Seoul and Tokyo for a week of high-level insight, networking and capital-focused conversations. With 400+ senior investors and fund managers expected, plus investors outnumbering managers 2:1 in Seoul and 1:5 in Tokyo, this is a week you cannot miss. Hear from leading institutional voices including: 🔸Kazunari Yaguchi, JAPAN POST BANK Co., Ltd. 🔸Kyle Lee, KOREA NATIONAL PENSION SERVICE 🔸Naoto Abe, Government Pension Investment Fund The countdown is on! 🔗Secure your place: https://okt.to/wQGvxj

Australian superannuation funds expressed optimism that the unlisted real estate market could be set for a recovery. At the inaugural Sydney edition of the PEI Investor Council, executives from Commonwealth Superannuation Corporation, Australian Retirement Trust, and Colonial First State all pointed to improving fundamentals and relative value as reasons to re-engage with the asset class. CSC's Glenn Riley, whose fund has seen its real estate allocation fall from 11% to 4% since 2017, said the cycle has turned. "We do feel the market has turned, it's hit the cyclical bottom, market fundamentals are looking a lot better now and our internal valuation signals are showing some strong opportunities." Australian Retirement Trust's Michael Weaver said his fund has been "more active in real estate than any of the other private markets" over the past 12 months on the back of improved relative value. Colonial First State's Chloé Brayne flagged industrial and senior housing as the standout thematics, citing supply chain resilience and demographic shifts as key drivers. Read the full story: https://okt.to/xz4Q51 #PrivateRealEstate

Real estate secondaries have crossed a threshold. The market is no longer a one-time liquidity tool, it's becoming a permanent feature of how private real estate capital moves. New research from CBRE Investment Management puts global real estate secondaries volume at $25.1 billion in 2025, up 3% year-on-year. But the more significant shift is behavioral: investors are using the market with greater intention, not just necessity. Partial stake sales are rising. LP-led deals grew 15% to $8.8 billion. Industrial transactions surged 52% to overtake multifamily as the leading sector. And while UK volumes pulled back sharply, European opportunities are expanding on the back of chronic housing undersupply and repriced equity. As CBRE IM's Kilian Toms puts it: "LPs are running out of patience, and the secondary market is that valve." Read the full story on PERE: https://okt.to/k9xUjO #RealEstateSecondaries

Capital flows into European real estate are becoming more global and Asia is playing a larger role. Marcus Meijer, CEO at MARK Capital Management & Chairman at Crossbay explains how Asian LP demand is reshaping fundraising conversations and becoming an increasingly important source of capital for European real estate strategies. In just two weeks, Marcus joins the PERE Network at #PERESeoulForum on June 2, where investors, managers and industry leaders will discuss capital flows, LP appetite and opportunities across private real estate. Be in the room to meet the people shaping where capital moves next. Book your place now: https://okt.to/NVuAGw ➡️Watch the full interview here: https://okt.to/iyfegB #PERE #privatemarkets #fundraising #institutionalinvestors