Westbrook Partners LLC and TIER REIT have sold two Washington, D.C. office buildings to UNIZO Holdings Company Limited for $259 million. Holliday Fenoglio Fowler LP arranged the sale of the property on behalf of the sellers.
Cerberus Capital Management has restructured its global real estate platform with new appointments. Lee S. Millstein, the firm's current head of European and Asian distressed/real estate, has been named global head of real estate while Ronald A. Rawald, head of European real estate advisory, will move from London to New York and become head of international real estate. Also, Daniel Dejanovic will relocate from the firm's London office to its new one in Amsterdam and became head of European real estate.
PGIM Real Estate said April 27 that its latest fund closed with more than 1 billion pounds ($1.29 billion) in capital. Pramerica Real Estate Capital VI (PRECap VI) will invest in private real estate debt in Europe, providing whole loans, mezzanine and preferred equity. PGIM Real Estate is the real estate investment business of PGIM, which itself is the global investment management business of Prudential Financial Inc.