Key Takeaways
- • APG Asset Management has awarded Melbourne-based MaxCap Group a $400 million (US$400m) real estate credit mandate on behalf of its Dutch pension fund clients, according to Mingtiandi.
- • The discretionary mandate targets first mortgage loans across all real estate sectors, extending a partnership between APG and MaxCap that dates to 2019.
- • The award is one of several APAC real estate headlines in Mingtiandi's roundup, which also covers Ares and PSP Investments' up-to-$2.4 billion U.S. logistics joint venture and Brookfield and CPP Investments' USD 5.2 billion acquisition of industrial REIT LXP.
Summary
APG Asset Management has selected Australia's MaxCap Group for a new $400 million real estate credit mandate, Mingtiandi reported. According to the publisher, MaxCap secured the mandate from APG on behalf of its Dutch pension fund clients. The new discretionary mandate will continue to target first mortgage loans across all real estate sectors. The allocation extends a relationship that began in 2019, and MaxCap, founded in 2007, is based in Melbourne.
The award is highlighted in Mingtiandi's daily roundup of Asia Pacific real estate news, which is led by APG's choice of MaxCap for a credit strategy. The same publication's roundup also references a number of other institutional real estate transactions, including Ares and PSP Investments' joint venture to invest up to $2.4 billion in U.S. logistics real estate and the Brookfield and CPP Investments acquisition of industrial REIT LXP for USD 5.2 billion. The primary source is a summary-level roundup, so details beyond the mandate size, targeting and relationship history are limited.
The award is highlighted in Mingtiandi's daily roundup of Asia Pacific real estate news, which is led by APG's choice of MaxCap for a credit strategy. The same publication's roundup also references a number of other institutional real estate transactions, including Ares and PSP Investments' joint venture to invest up to $2.4 billion in U.S. logistics real estate and the Brookfield and CPP Investments acquisition of industrial REIT LXP for USD 5.2 billion. The primary source is a summary-level roundup, so details beyond the mandate size, targeting and relationship history are limited.
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