MaxCap Group, an asset manager that specializes in commercial real estate credit with a focus on Asia and Australia, will be acquired by Apollo Management under a definitive agreement. Headquartered in Melbourne and founded in 2007, MaxCap had AUD 4 billion in assets under management at the end of June, and has led over 450 investments totaling over AUD 11 billion since inception. After the acquisition, MaxCap co-founders Wayne Lasky and Brae Sokolski will continue to lead the company and retain a minority stake.
LaSalle Investment Management’s LaSalle Canada Property Fund has acquired a real estate portfolio in Montreal and Vancouver from Ivanhoé Cambridge. The portfolio includes a 50% stake in Maison Manuvie at 900 Boulevard de Maisonneuve O, a trophy asset with over 485,000 square feet of office space in Montreal, 50% of Guildford Town Centre, a super-regional shopping center in the Surrey suburb of Vancouver, and 50% of an 18-acre site north of Guildford town center.
GAP, the casual clothing chain, is continuing to expand in the European market with its latest opening in Etele Plaza in Budapest through a franchise partnership with Ganeta Pannonia Kft. The 350 square meter store, located in Buda’s largest shopping mall, will offer the brand’s Fall 2021 collections for men, women, children, kids, and babies. Adrienne Gernand, Head of GAP Inc. Strategic Alliances, Licensing and Real Estate, said that partnering with regional experts like Ganeta Pannonia Kft allows them to amplify and deliver their brands to new and existing customers around the world.
Ax Etoile, a 10,600 square meter office building in Nanterre, in the western suburbs of Paris, has been acquired by AnaCap Financial Partners and FREO Group from Catalyst Capital. The ten-story building is currently leased to six high-quality tenants, including BNP Paribas, Eiffage, Vinci, and CIC, and is located just a two-minute walk from the RER A Nanterre Préfecture local rail station. FREO and AnaCap have already identified a number of asset management initiatives to increase the value of the property, including a comprehensive renovation program to improve the building’s quality and energy efficiency, as well as the leasing of empty space.
