BOSTON and CHARLESTON, S.C.  –  April 21, 2025 – Bain Capital’s Real Estate team (“Bain Capital”) and BlueWater Marinas (“BlueWater”), led by Joe Miller and Dunston Powell, today announced the acquisition of Boathouse Marine Center (“BMC”), a dry-stack marina in Pompano Beach, Florida.  Financial terms of the private, off-market purchase were not disclosed.

Bain Capital and BlueWater formed a strategic joint venture in 2024 to acquire and operate high-quality, storage-centric marina properties in premier boating markets along the East Coast.  BMC is the second asset in the JV’s portfolio, adding to the joint venture’s acquisition of Harbor at Lemon Bay, a dry-stack marina located in the Sarasota submarket of Englewood, Florida.

“Consistent with Bain Capital’s thematic, customer-oriented investment approach, the marina sector benefits from several long-term secular growth drivers, including very high structural supply barriers, increased consumer spending on experiences, and sustained demand for larger boats,” said Andrew Terris, a Partner at Bain Capital.  “BMC represents a compelling opportunity to acquire an attractive asset in one of our highest conviction markets, and we look forward to building upon our partnership with the BlueWater team as we seek to assemble a best-in-class portfolio of marinas that is advantaged by high barrier-to-entry locations and BlueWater’s operational expertise.”

Strategically positioned, BMC offers a convenient location in a dense, affluent market near the Hillsborough Inlet.    Pompano Beach, a submarket of Fort Lauderdale, is a long-established boating market that benefits from heavy year-round boating traffic and features some of the strongest supply-demand imbalances in the country.

Miller, Powell and the BlueWater team have over 110 years of combined experience acquiring, developing, and operating marinas and previously successfully scaled a best-in-class portfolio as the founders and principals under a separate well-known marinas brand.  Commenting on the joint venture, Miller stated that “Bain Capital is an outstanding, highly aligned partner. Their reputation precedes them and we now understand why they are so highly regarded. We feel extremely fortunate to team with such a fine firm as we continue forward in the marina sector.”

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About Bain Capital Real Estate
Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested and committed over $9 billion of equity across multiple sectors. Bain Capital Real Estate focuses on assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate’s strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm’s global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities. Bain Capital is one of the world’s leading private investment firms with approximately $185 billion of assets under management. For more information, visit https://www.baincapitalrealestate.com/.

About BlueWater Marinas
Headquartered in Charleston, South Carolina, BlueWater Marinas will acquire, develop and operate coastal marina assets, including both dry and wet slips. Established by former executives and key team members of PORT 32 Marinas and Atlantic Marina Holdings, alongside several marina industry top performers, BlueWater Marinas brings unparalleled expertise in marina development and management, delivering exceptional service to its customers. With a proven track record, BlueWater Marinas will build and operate a distinguished portfolio of Class A marina assets in prime markets along the East Coast. For more information, please visit https://bw-marinas.com.

London, 15 April 2025 – KKR and Inhabeo, KKR Real Estate’s living sector platform in Europe, today announced the acquisition of The Slate Yard in Manchester, a high-quality portfolio of three Build-to-Rent (BtR) multi-family buildings (the “Portfolio”). KKR and Inhabeo have acquired the Portfolio for over £100m from L&G, a leading UK-based financial services group.

The Portfolio has strong sustainability credentials and consists of 424 high-quality residential units across three properties, totalling 270,000 square feet. It houses attractive amenities including a gym, residents’ lounges and co-working spaces. Situated in a prime waterfront location, The Slate Yard is close to the central business district and well positioned to serve Manchester’s fast-growing population of professionals in an undersupplied residential market.

Mark Ekinde, Principal in KKR’s European Real Estate team, said: “Through the acquisition of The Slate Yard, we are pleased to further our presence in Manchester and continue to grow our UK residential portfolio. Catering to one of the UK’s largest and fastest-growing cities, these properties are well placed to meet the growing demand for high-quality, yet affordable, residential real estate. Acquiring strategically located, high-quality residential assets in major urban centres continues to be one of our main investment themes in Europe, driven by positive market trends and compelling structural dynamics.”

The acquisition of The Slate Yard is KKR’s latest real estate investment in Manchester, joining a growing portfolio which includes the No. 1 St Michael’s development, which in December 2024 achieved fully-let status, and recent investments in logistics and hospitality properties serving the city’s real estate market. The investment also expands KKR’s portfolio of residential real estate in both the UK and Europe, including assets in London, Birmingham, Brighton & Hove as well as Germany, Finland and Denmark.

Dan Batterton, Head of Residential, L&G: “We know there’s a critical shortage of housing supply, coupled with increasing demand for high-quality rental homes in the UK. With our recently announced partnerships aimed at creating thousands of new homes across the country, this sale will allow us to continue to reinvest in the Build-to-Rent sector, delivering much-needed new homes.”

Ross Netherway, CEO of Inhabeo, added: “This acquisition marks an important milestone in the continued growth of our European living sector investments with KKR, which now exceed £500m. We look forward to building on this momentum to expand further into high-quality Build-to-Rent and Purpose-Built Student Accommodation assets across select European geographies.”

KKR and Inhabeo were advised by CBRE and DLA Piper; L&G were advised by Knight Frank and Macfarlanes.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About inhabeo

Inhabeo is a specialist living sector platform founded in 2023. Inhabeo works in partnership with KKR across Europe with a focus on Build-to-Rent and Purpose-Built Student Accommodation for both core-plus and value-add strategies. For additional information about inhabeo, please visit www.inhabeo.com.

About L&G

Established in 1836, L&G is one of the UK’s leading financial services groups and a major global investor, with £1.1 trillion in total assets under management (as at FY24) of which c. 44% (c. £0.5 trillion) is international.

We have a highly synergistic business model, which continues to drive strong returns. We are a leading player in Institutional Retirement, in Retail Savings and Protection, and in Asset Management through both public and private markets. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.

Media Contacts
KKR
Alastair Elwen / Jack Shelley
FGS Global
+44 20 7251 3801
KKR-LON@fgsglobal.com

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NEW YORK – April 15, 2025 — Smith Hill Capital, the fully integrated commercial real estate debt investment management business of Procaccianti Companies, and Bain Capital today announced the firms’ joint venture completed a $235 million refinancing for the iconic Gurney’s Montauk Resort & Seawater Spa in Montauk, New York for BLDG Management Co., Inc., and Metrovest Equities.

The 158-key property is a celebrated oceanfront resort located on a 2,000-foot private beach in Montauk, divided between 109 guestrooms, 35 suites, eight beachfront cottages, and six residences, and features five dining venues, a 30,000 square foot onsite spa with four spa pools, full-size indoor saltwater pool, 20 treatment rooms, a salon and state of the art fitness center, and 25,000 square feet of meeting space.

“Gurney’s Montauk represents the type of irreplaceable, generational asset that aligns perfectly with our investment strategy—anchored by strong market fundamentals, exceptional sponsorship, and long-term value creation,” said Brendan McCormick, Managing Principal, Smith Hill Capital. “Even in today’s uncertain capital markets, we continue actively deploying capital for high-conviction opportunities like this. We’re proud to partner with Bain Capital and support BLDG and Metrovest in the continued evolution of this iconic resort, which is uniquely positioned as a luxury destination in one of the most sought-after leisure markets in the country.”

“The Gurney’s Montauk loan exemplifies our strategic approach to commercial real estate lending,” said David DesPrez, a Partner at Bain Capital. “This transaction underscores our commitment to providing flexible financing solutions to high-quality borrowers and assets through an uncertain macroeconomic environment.”

“Gurney’s Montauk is an exceptional and iconic property in a one-of-a-kind location with world-class amenities,” said Justin Kleinman, Executive Vice President and Chief Operating Officer at BLDG Management. “This property is a premier resort destination in the Northeast and is an elite asset in our portfolio.”

“Smith Hill Capital and Bain Capital proved to be outstanding lending partners on the Gurney’s project,” said Christopher Peck, Senior Managing Director and Co-Head of the New York Office, JLL. “The team’s expertise and collaborative approach were invaluable in financing this unique asset. They immediately recognized the exceptional value of this 20-acre resort in Montauk, and their flexible lending solutions perfectly aligned with the sponsors’ requirements.”

Smith Hill and Bain Capital’s joint venture focuses on serving the financing needs of hospitality companies and assets in demand-driven markets across the U.S. The partnership combines decades of industry and capital markets experience with a highly attractive market opportunity.

JLL represented the sponsors in the transaction.

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About Smith Hill Capital
Smith Hill Capital (“Smith Hill” or “SHC”) is the fully integrated commercial real estate debt investment management business of the Procaccianti Companies (est. 1958). Smith Hill Capital was formed to invest in compelling commercial real estate debt opportunities that exist due to liquidity challenges and dislocation in commercial real estate financial markets. Smith Hill Capital is led by seasoned investment professionals who have multi-cycle investment experience and the tenured skill set to identify opportunities throughout the entire commercial real estate capital structure, spanning from securities to equity ownership. For more information, please visit www.smithhillcapital.com.

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.Baincapital.com. Follow @Bain Capital on LinkedIn and X (Twitter).

About BLDG Management
BLDG Management Co., Inc., is a privately held New York City-based real estate investment and development company with a national portfolio of more than 300 assets across all sectors, including residential, retail, industrial, hospitality and office.

About Metrovest Equities
Metrovest Equities is a New York City-based real estate firm specializing in the acquisition, development, rehabilitation and management of real estate assets. Established in 1996, the firm focuses on residential, office, retail, and hospitality opportunities in prime locations across the northeastern region of the U.S. The firm manages resorts and hotels across the United States. With a focus on long-term growth and value creation, Metrovest Equities strives to provide quality real estate opportunities for investors seeking stable returns.

Media Contacts

New York & Dallas – April 10, 2025 – Blackstone (NYSE: BX) and Crow Holdings, a leading real estate investment and development firm, today announced that Core+ funds affiliated with Blackstone Real Estate have agreed to acquire a 95 percent stake in an industrial portfolio developed by Crow Holdings for $718 million. Crow Holdings and its partners will retain 5 percent ownership. The portfolio consists of 25 Class A buildings totaling 6 million square feet and is predominantly located in high-barrier submarkets in Dallas and Houston, two of the top-performing U.S. logistics markets.

David Levine, Co-Head of Americas Acquisitions for Blackstone Real Estate, said: “This transaction is another example of Blackstone Real Estate deploying capital during this period of market volatility. We are thrilled to acquire this high-quality portfolio located in some of the best performing U.S. industrial markets. With limited vacancy and new construction starts down over 80% from the 2022 peak, logistics remains a high conviction theme for us; we are proud owners of more than $90 billion of warehouses in North America and nearly $170 billion in total around the world.”

Michael Levy, Chief Executive Officer at Crow Holdings, said: “We are excited about the opportunity to partner with Blackstone in this investment portfolio. Our company was founded by Trammell Crow when he built his first warehouse in Dallas in 1948 – a building that we still own today. We are extremely proud of our team for developing such a high-quality portfolio that attracted Blackstone, a global leader in the logistics industry, and we look forward to the partnership’s possibilities.”

The transaction is expected to close in the second quarter of 2025.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $315 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

About Crow Holdings
Crow Holdings is a privately held real estate firm founded in 1948 based in Dallas, Texas. The company’s business activities include a leading real estate development and investment platform, an expanding traditional and renewable energy business, and broader private equity investment capabilities. With 18 offices across the U.S., Crow Holdings’ local, on-the-ground presence amplifies its hands-on capabilities across a broad range of investment strategies and ventures in partnership with leading institutional and individual investors. The firm manages $33 billion in assets and investments across a diversified business and investment portfolio rooted in its founding principles of partnership, collaboration, and alignment of interests. For more information, please visit: www.crowholdings.com.

Contacts

Adam McGill
amcgill@crowholdings.com

Ruby Wald
Ruby.Wald@blackstone.com

This Marks the JV’s Third Transaction to Meet the Growing Tenant Demand for Life Sciences and R&D Real Estate in Japan

Tokyo, April 3, 2025 – Warburg Pincus, the pioneer of private equity global growth investing, and Eastgate Group, one of Japan’s largest privately owned real estate investment managers, today announced the acquisition of Shinagawa Seaside West Tower by their joint venture (“JV”) and the unveiling of the GRC brand for the JV’s properties. This acquisition represents the third transaction under the venture since its inception in 2023, expanding the portfolio to include high-quality innovation and R&D assets in both Yokohama and Tokyo.

In 2023, Warburg Pincus, through the Warburg Pincus Asia Real Estate Fund (“WPARE”), and Eastgate Group, through Eastgate Capital Management, established the JV to leverage their combined expertise to address the significant undersupply of specialist real estate for lease to tenants in the life sciences, hi-tech, and manufacturing industries across Japan’s key cities. With the Shinagawa Seaside acquisition, the joint venture now manages over 1 million square feet of gross floor area and has over US$300 million of assets under management.

Operated under the GRC brand, the venture’s assets are strategically located in major innovation and R&D hubs, catering to a diversified tenant base across a wide range of industries seeking to attract and retain high-skilled talent. From designing and delivering bespoke spaces to managing specialized properties, GRC is committed to delivering state-of-the-art infrastructure, including a wide range of spaces with modular unit sizes and both dry and wet labs, to meet the evolving needs for high-quality, high-specification space of both international and domestic tenants.

In November 2023, the venture acquired its first asset, GRC Yokohama Bay Research Park, a 17-storey mixed-use commercial building spanning over 540,000 square feet of gross floor area. The property currently houses a large number of tenants from specialist industries, such as engineering, technology, government research, and manufacturing, offering base specifications suitable for both wet and dry lab use. Building on the success of Yokohama Bay Research Park, the venture acquired the soon-to-be-renamed GRC Yokohama Science Cube in December 2024. This 78,000 square feet facility, located adjacent to Center Kita Station in Yokohama, is set to be transformed into a cutting-edge R&D and medical facility. The latest acquired asset, Shinagawa Seaside West Tower, is an 18-storey commercial building in Tokyo’s Shinagawa district. It offers over 410,000 square feet of gross floor area with superior structural specifications, capable of accommodating both dry and wet labs up to biosafety level 2.

Aligned with the venture’s strategy, GRC properties aim to deliver the consistent quality and service demanded by tenants operating critical on-site functions. Key features include customized spaces, dedicated mechanical and engineering riser spaces for ventilation, requisite water, gas and power provisions, heavy-duty floor loading and goods elevators, and specialist building operations to accommodate the daily needs of tenants.

Takashi Murata, Managing Director, Co-Head of Asia Real Estate and Head of Japan at Warburg Pincus, said, “We have built a high conviction in Japan’s life sciences and R&D real estate sector, which is underpinned by several secular trends including a rapidly aging population, strong growth in the healthcare market, and a significant shortage of R&D and lab space for lease. Both Warburg Pincus and Eastgate are early movers in the life sciences and R&D space with over 20 years of combined experience in investing in and managing such assets. By leveraging Warburg Pincus’ deep platform-building experience and operational expertise and Eastgate’s strong track record and local resources, we believe that GRC is well-positioned to meet the evolving needs for high-quality, specialized life sciences and R&D facilities in Japan among a diversified group of tenant base.”

Shozo Sekine, Founder and CEO of Eastgate Group, said, “As one of the first movers in this space, having managed R&D assets for more than 15 years, we have observed first-hand the critical undersupply of high-quality, well-managed R&D facilities and the resulting rental premium they command. We are excited to partner with Warburg Pincus to establish this joint venture in Japan, leveraging Eastgate’s extensive operational expertise, strong track record in the sector and deep local knowledge with Warburg Pincus’ proven experience, global resources and established track record in scaling real estate platforms in Asia. We look forward to capitalizing on our combined strengths to support GRC’s continued growth and deliver long-term value to our tenants and investors.”

To learn more about GRC, please visit www.grcproperties.com

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About Warburg Pincus

Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $87 billion in assets under management, and more than 220 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

Warburg Pincus began investing in Asia real estate in 2005. Today, it has become one of the largest and most active investors in the region, with over US$9 billion invested in more than 50 real estate platforms and ventures. The firm is a pioneer of platform investing and has co-founded or sponsored leading platforms alongside best-in-class entrepreneurs such as ESR, DNE, Vincom Retail, BW Industrial, Princeton Digital Group, Weave Living, Vita Partners and StorHub.

About Eastgate Group

Eastgate Group is one of Japan’s largest privately owned real estate investment managers, with over JPY700 billion in assets under management. Headquartered in Tokyo, Eastgate employs over 70 professionals based in Japan and Singapore, and operates across all major cities and real estate sectors in Japan. Eastgate also manages assets on behalf of, and invests, alongside Japanese investors, in key global cities including Sydney, Brisbane, Los Angeles, and London. For more information, please visit www.eastgate-group.com

Media Contact

Warburg Pincus

Lisa Liang

Senior Vice President, Asia Head of Marketing and Communications, Warburg Pincus

lisa.liang@warburgpincus.com

Eastgate Group

Christopher Chiang

Chief Executive Officer, Eastgate Capital Management

cchiang@eg-cap.com

LONDON – March 27, 2025 – Bain Capital, a leading global private investment firm, today announced it will invest €150 million into Företagsparken, a leading Swedish light industrial property company. The investment will enable the company to acquire new assets and expand its existing portfolio. As part of the transaction, Bain Capital has acquired 15.9 percent of the existing shares. Företagsparken owns and manages a diverse portfolio of more than 200 properties, focusing on light industrial and last-mile logistics situated in urban locations across Sweden. Företagsparken tenants base is highly diversified and typically consists of small and medium sized enterprises.

Ali Haroon, a Partner at Bain Capital and Head of Special Situations and Real Estate in Europe, added: “Our partnership with Företagsparken is an example of Bain Capital’s contribution to the growth of the European real estate landscape. In this instance, we are providing growth capital to Företagsparken to scale its operations and seize new opportunities in the market. While the senior management team has successfully grown the company’s assets in the last years, our investment is a testament to our confidence in both the team and the promising dynamics of the Swedish industrial real estate market.”

Rafael Coste Campos, a Partner at Bain Capital, commented: “Our collaboration with Företagsparken will focus on developing a leading light industrial and logistics player in Sweden. Demand for light industrial real estate in Sweden has been resilient, resulting in low vacancy rates and strong rental growth, trends we expect to continue in the following years. We believe this is the right platform and a strong management team to back. While the buildings in Företagsparken’s portfolio already meet stringent energy efficiency requirements, our investment will also focus on enhancing these initiatives.”

Leif Östling, Advisor and Shareholder of Företagsparken, said: “This is a positive development for Företagsparken. Bain Capital will provide excellent support in expanding the company in Sweden. There will be great business opportunities in supporting small and medium-sized industrial companies with real estate for their operations.”

Angeelica Holm, CEO of Företagsparken, said: “We have experienced strong organic growth within our existing portfolio and are now aiming to become a leader within the light industrial segment. With the right expertise and resources, we are well-positioned for success. Together with Bain Capital, we look forward to accelerating our growth journey through M&A opportunities and new acquisitions.”

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About Bain Capital:
Bain Capital is one of the world’s leading private multi-asset alternative investment firms that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Since our founding in 1984, we’ve applied our insight and experience to organically expand into numerous asset classes including private equity, credit, public equity, venture capital, real estate and other strategic areas of focus. The firm has offices on four continents, more than 1,750 employees and approximately $185 billion in assets under management. for more information, visit www.baincapital.com.

About Företagsparken:
Företagsparken is a growth-oriented property company that acquires, develops and manages high-yielding properties and land within the light industrial, last mile logistics segments in urban business parks.

Media Contacts

London, March 5, 2025 – Sixth Street, a leading global investment firm, and Copley Point Capital Limited (“Copley Point”), an owner and operator of UK industrial property, today announced that their previously announced joint venture has acquired a portfolio of three logistics assets from National Farmers Union Mutual Insurance Society totalling 0.9 million square feet located in prime logistics hubs. Two of the assets totalling 0.5 million square feet are leased to Fowler Welch and Great Bear, and are located within Magna Park, Lutterworth, one of the UK’s premier distribution parks located in the Golden Triangle. The third asset is leased to Amazon and located in Doncaster.

The acquisition brings the joint venture’s portfolio to six assets across 2.5 million square feet – each acquired since its formation in November 2024 – and continues its strategy focused on acquiring high-quality, mission-critical industrial real estate in strong logistics markets across the UK.

Guillaume Savoie-Coulonval, Managing Director at Copley Point, commented, “We are delighted to expand our partnership with Sixth Street and add to our high-quality portfolio. These three distribution warehouses exemplify the type of investments we are targeting across the UK. We remain acquisitive and continue to offer a reliable solution to sellers in the current market environment.”

BSBRE advised the seller on the transaction.

About Sixth Street

Sixth Street is a global investment firm with over $100 billion in assets under management and committed capital.^* The firm uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. Founded in 2009, Sixth Street has more than 650 team members including over 280 investment professionals around the world.¹ For more information, visit www.sixthstreet.com or follow Sixth Street on LinkedIn.

About Copley Point

Founded in 2019, Copley Point is a specialised principal investor and asset manager of UK real estate and related real assets. It manages more than £700 million of assets through a series of joint ventures and platforms where it is invested alongside institutional investors. The firm’s UK industrial property platform, Block Industrial, is specialised in mid and large box deals. Since the inception of the platform in 2020 it has also partnered with Brookfield. Copley Point is also a significant investor in the energy transition of UK property through its large shareholding in heat electrification specialist, Rendesco. More information is available at www.copleypoint.com.

Media Contacts

¹Total Sixth Street employees as of 09/30/2024