Real Estate Acquisitions in 2019

BISNOW Media has acquired SelectLeaders, the leading commercial real estate job board, in an all-cash transaction that closed in December 2019. SelectLeaders’ founder and owner Susan Phillips will transition away from day-to-day management while the existing team will stay on and integrate into BISNOW’s platform as BISNOW looks to expand its data-driven, technology-enabled offerings for the commercial real estate industry.

LDC-backed property agency Linley & Simpson has acquired the lettings arm of Beercocks in Hull, adding almost 500 properties to its rental portfolio and marking the group's first expansion into Humberside. The deal — the ninth since Linley & Simpson secured backing from LDC in 2018 — was financed with support from Santander Corporate and Commercial Bank; terms were not disclosed.

Scion Student Communities, a joint venture backed by Canada Pension Plan Investment Board (CPPIB), GIC and The Scion Group, acquired MUZE, a newly developed 502‑bed student housing community serving the University of Texas at Austin. MUZE was acquired from a partnership of Kayne Anderson Real Estate and developer Parallel Company and complements Scion's adjacent University House Austin, expanding the JV's presence in the UT Austin market.

Vitruvian Partners has acquired Sykes Cottages Holdings Limited, a UK-based vacation rental management business, with unitranche senior debt facilities provided by EQT Credit to finance the acquisition, refinance existing debt, and support future growth. Sykes operates a tech-enabled vacation rental platform managing tens of thousands of properties across the United Kingdom and New Zealand and will be supported by the new capital for continued expansion.

Long Ridge Equity Partners made a growth capital investment in Neighborhoods.com, the parent company of 55places.com, becoming the company's first outside investor. Long Ridge principals Angad Singh and Dan Hang will join the board to support product and market expansion as Neighborhoods.com pursues adjacent verticals and continued growth of its online real estate marketplaces.

LDC-backed Linley & Simpson has acquired the residential lettings and sales business of Yorkshire independent agency Morgans for an undisclosed sum. The deal adds more than 1,450 homes to Linley & Simpson’s lettings portfolio — taking it to about 8,000 properties across 16 branches — and is the firm’s largest acquisition since LDC’s 2018 investment as part of a buy-and-build growth strategy.

Equistone Partners Europe has agreed to acquire FirstPort, a leading UK residential property management company, from Epiris and Chamonix Private Equity. Equistone said it will support FirstPort's digital transformation and growth strategy while the incumbent management team, led by CEO Nigel Howell, remains invested in the business.

TPG Real Estate Partners (TREP), the real estate platform of TPG, agreed to acquire a 75% stake in Spanish residential Socimi Témpore Properties from Sareb, valuing the company at €329.5 million. Sareb will retain a 24.12% stake, Témpore will remain listed on the MAB and CEO Nicolás Díaz Saldaña will continue to lead the company.

Big Black River Holdings, LLC, a portfolio company of Jones Capital, has acquired approximately 55,000 acres of timberland and timber reserves from Anderson Tully Company in southwest Mississippi. BBRH will manage the properties with operational partners Good Hope, Inc. and OneSource, Inc., conducting timber harvesting, reforestation and licensing land for recreational use.

Greybull Stewardship has made an equity investment in Grand Welcome, a Torrance, California–based vacation rental management operator and franchisor. The capital will support Grand Welcome's national expansion and franchise development; terms were not disclosed and Brandon Ezra will remain President & CEO.

Lincoln Rackhouse, the data center division of Lincoln Property Company, in partnership with Principal Real Estate Investors, has acquired colocation and managed services provider Bytegrid, gaining control of three data centers in the Washington, DC (Silver Spring), Chicago (Aurora) and Seattle (Lynnwood/Aurora area) markets. The acquisition includes approximately 320,000 square feet of facilities and 16MW of IT load and adds Bytegrid's colocation, managed services, network and hosting business to Rackhouse's nationwide portfolio.

The Instant Group, backed by private equity firm Bowmark Capital, has acquired Incendium Consulting, an independent corporate real estate consultancy that provides procurement, consulting and change-management services to blue-chip clients. The deal expands Instant’s capabilities in real estate consulting and procurement to complement its flexible workspace marketplace and advisory services.

Horizon-backed Bellrock Group has acquired Fasset Holdings Ltd, a Havant-based property and facilities management consultancy and delivery business with nearly 200 employees. The deal expands Bellrock’s geographic footprint across Southern England and the Midlands and broadens its customer reach in the Technology and Utilities markets as an add-on to its existing platform.

TPG Real Estate Partners (TREP) has acquired certain industrial assets from Czech developer Contera, including industrial parks in Teplice and Ostrava, in a transaction valued at more than €90 million. The acquisition is part of a strategic venture formed between TREP and Contera to acquire and develop industrial real estate projects in Central Europe, primarily the Czech Republic and Slovakia, with Contera continuing to operate and manage the assets.

Nationwide Property & Appraisal Services, a portfolio company of Corridor Capital, completed the acquisitions of Guideline Real Estate Services (Chaska, MN) and OrderPro USA (Overland Park, KS). The add-ons expand Nationwide's geographic footprint and service capabilities, creating a national appraisal management company that will manage over 150,000 appraisals annually; the deal was supported by a Comerica senior credit facility and financing from Southfield Mezzanine.

Charlotte-based private investment firm Summit Park has recapitalized Exacta Land Surveyors LLC, a Cleveland-based provider of land surveying, field management services, and the SurveyStars SaaS product. Stellus Capital Management provided a senior secured credit facility and equity co-investment to support the transaction. Summit Park plans to support geographic expansion, operational optimization, and accelerated development and go-to-market investment for Exacta's SurveyStars platform.