Real Estate

Portfolio highlights

Direct CRE Equity

Multipurpose CRE assets across the U.K.

Europe

Active

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Multipurpose CRE assets across the U.K.

Sector: Multipurpose CRE Assets
Location: Europe
Fund: Lone Star Real Estate Fund VII
Acquired: 2024
Status: Active

A portfolio of 40 assets across the U.K., including industrial and logistics, supermarkets, retail parks and offices

Office building in Central Tokyo

Japan

Active

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Office building in Central Tokyo

Sector: Office
Location: Japan
Fund: Lone Star Real Estate Fund VI
Acquired: 2024
Status: Active

High-quality, nine-story 38,578 sqm Grade A- office building in the Osaki submarket of Central Tokyo

Multipurpose CRE assets in Scotland

Europe

Active

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Multipurpose CRE assets in Scotland

Sector: Multipurpose CRE Assets
Location: Europe
Fund: Lone Star Real Estate Fund VI
Acquired: 2024
Status: Active

549,264 sq.ft. shopping center, retail park, hotel and associated car park in Aberdeen, Scotland

Multifamily asset in Tokyo

Japan

Active

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Multifamily asset in Tokyo

Sector: Multifamily
Location: Japan
Fund: Lone Star Real Estate Fund VI
Acquired: 2023
Status: Active

24-story, 240-unit multifamily residential asset located in one of Tokyo's central wards

Tokyu Hotel Tokyo Bay hotel and operating company

Japan

Active

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Tokyu Hotel Tokyo Bay hotel and operating company

Sector: Lodging
Location: Japan
Fund: Lone Star Real Estate Fund VI
Acquired: 2023
Status: Active

Acquisition of Tokyu Hotel Tokyo Bay, primarily serving Tokyo Disney Resort visitors, and the hotel operating company

Multipurpose CRE assets in Tokyo suburb

Japan

Active

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Multipurpose CRE assets in Tokyo suburb

Sector: Multipurpose CRE Assets
Location: Japan
Fund: Lone Star Real Estate Fund VI
Acquired: 2023
Status: Active

80% share in a portfolio of 54 retail, office, logistics and land assets in a Tokyo suburb

Multifamily asset near central Tokyo

Japan

Active

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Multifamily asset near central Tokyo

Sector: Multifamily
Location: Japan
Fund: Lone Star Value-Add Fund II
Acquired: 2023
Status: Active

A 26-story, 175-unit apartment building located near one of the world’s busiest train stations near central Tokyo

Brussels hotel and retail assets

Europe

Active

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Brussels hotel and retail assets

Sector: Lodging, Retail
Location: Europe
Fund: Lone Star Value-Add Fund II
Acquired: 2022
Status: Active

Five-star hotel with 267 keys located in the city center of Brussels and nine adjacent high-street retail units totaling 8,277 sqm

Multifamily asset in Scottsdale, Arizona

North America

Active

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Multifamily asset in Scottsdale, Arizona

Sector: Multifamily
Location: North America
Fund: Lone Star Value-Add Fund II
Acquired: 2022
Status: Active

New Class A multifamily property comprising 282 units in Scottsdale, Arizona

Multifamily assets in Sun Belt markets

North America

Active

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Multifamily assets in Sun Belt markets

Sector: Multifamily
Location: North America
Fund: Lone Star Value-Add Fund II
Acquired: 2022
Status: Active

Five diversified, newer vintage multifamily properties totaling 1,565 units in Sun Belt markets

Multifamily assets in Sun Belt markets

North America

Active

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Multifamily assets in Sun Belt markets

Sector: Multifamily
Location: North America
Fund: Lone Star Real Estate Fund VI
Acquired: 2022
Status: Active

41 diversified, newer vintage multifamily properties totaling 7,640 units in Sun Belt markets

Multifamily asset in central Tokyo

Japan

Active

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Multifamily asset in central Tokyo

Sector: Multifamily
Location: Japan
Fund: Lone Star Value-Add Fund II
Acquired: 2022
Status: Active

A premium 281-unit multifamily asset in central Tokyo

Office assets in Poland

Europe

Active

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Office assets in Poland

Sector: Office
Location: Europe
Fund: Lone Star Real Estate Fund VI
Acquired: 2022
Status: Active

Three new office assets with approximately 66,000 sqm of gross leasable area in Poland

Student housing assets in the U.K.

Europe

Active

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Student housing assets in the U.K.

Sector: Student Housing
Location: Europe
Fund: Lone Star Real Estate Fund VI
Acquired: 2022
Status: Active

11 first-generation Purpose-Built Student Accommodation assets in eight U.K. markets

Warehouse parks in Scotland and Wales

Europe

Active

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Warehouse parks in Scotland and Wales

Sector: Warehouse Parks
Location: Europe
Fund: Lone Star Value-Add Fund II
Acquired: 2022
Status: Active

Four retail warehouse parks in Scotland and Wales comprising approximately 647,000 sq.ft.

Multifamily assets in Houston, Texas

North America

Active

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Multifamily assets in Houston, Texas

Sector: Multifamily
Location: North America
Fund: Lone Star Value-Add Fund I
Acquired: 2021
Status: Active

Two adjacent Class A, newer vintage multifamily assets total 731 units in the Houston MSA

Multifamily asset in Buckhead, Atlanta

North America

Active

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Multifamily asset in Buckhead, Atlanta

Sector: Multifamily
Location: North America
Fund: Lone Star Value-Add Fund I
Acquired: 2021
Status: Active

New Class A+ mid-rise multifamily property with 318 units and 21,400 sq.ft. of ground floor retail in the Atlanta MSA's Buckhead submarket

Retail assets in Florida and Alabama

North America

Active

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Retail assets in Florida and Alabama

Sector: Retail
Location: North America
Fund: Lone Star Real Estate Fund VI
Acquired: 2021
Status: Active

Two Class A open-air retail properties in Florida and Alabama

Luxury hotels in the U.S.

North America

Active

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Luxury hotels in the U.S.

Sector: Lodging
Location: North America
Fund: Lone Star Real Estate Fund VI
Acquired: 2021
Status: Active

Seven luxury/upper-upscale, full-service hotels operating under Marriott-affiliated brands

Multifamily in Buckhead Village, Atlanta

North America

Active

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Multifamily in Buckhead Village, Atlanta

Sector: Multifamily
Location: North America
Fund: Lone Star Value-Add Fund I
Acquired: 2021
Status: Active

New Class A+ high-rise multifamily property with 277 units and 13,152 sq.ft. of ground floor retail in the Atlanta MSA's Buckhead Village

Senior living assets in North America

North America

Active

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Senior living assets in North America

Sector: Senior Living
Location: North America
Fund: Lone Star Real Estate Fund VI
Acquired: 2021
Status: Active

Ten Class A Independent Living/Assisted Living/Memory Care communities, comprising 1,080 units, in Detroit, Columbus and Minneapolis MSAs

Multipurpose asset in Osaka

Japan

Exited

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Multipurpose asset in Osaka

Sector: Multifamily
Location: Japan
Fund: Lone Star Real Estate Fund VI
Acquired: 2021
Status: Exited (2022)

Strata titles of an A- grade retail/hotel mixed-use building connected to a train station in Osaka

Senior living assets in North America

North America

Active

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Senior living assets in North America

Sector: Senior Living
Location: North America
Fund: Lone Star Real Estate Fund VI
Acquired: 2021
Status: Active

12 Class A Independent Living/Assisted Living/Memory Care communities in Florida, Georgia and Texas

Multifamily assets in Houston, Texas

North America

Active

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Multifamily assets in Houston, Texas

Sector: Multifamily
Location: North America
Fund: Lone Star Value-Add Fund I
Acquired: 2021
Status: Active

Three newly-built, Class A multifamily assets with 882 units in Houston’s MSA

Office asset in Luxembourg

Europe

Active

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Office asset in Luxembourg

Sector: Office
Location: Europe
Fund: Lone Star Value-Add Fund I
Acquired: 2021
Status: Active

Office asset comprising approximately 25,000 sqm of office space and 819 parking units in Luxembourg

Student housing assets in the U.K.

Europe

Active

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Student housing assets in the U.K.

Sector: Student Housing
Location: Europe
Fund: Lone Star Value-Add Fund I
Acquired: 2021
Status: Active

Four Purpose-Built Student Accommodation assets totaling 2,621 beds and a small hotel in the U.K. located in Cardiff, Sheffield, Swansea and Hatfield

Multifamily assets in Dallas-Fort Worth

North America

Active

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Multifamily assets in Dallas-Fort Worth

Sector: Multifamily
Location: North America
Fund: Lone Star Value-Add Fund I
Acquired: 2020
Status: Active

10 new Class A multifamily assets in the Dallas-Fort Worth metroplex

Multifamily assets in Greater Tokyo

Japan

Exited

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Multifamily assets in Greater Tokyo

Sector: Multifamily
Location: Japan
Fund: Lone Star Real Estate Fund VI
Acquired: 2020
Status: Exited (2025)

CRE portfolio of 1,339 assets comprising 1,195 affordable rental apartments (share-houses), 109 land parcels and 35 hostels in Greater Tokyo

Office asset in downtown Atlanta

North America

Exited

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Office asset in downtown Atlanta

Sector: Office
Location: North America
Fund: Lone Star Value-Add Fund I
Acquired: 2020
Status: Exited (2025)

100% of the air rights leasehold interest in 55 Allen Plaza, a 342,854 sq.ft. LEED Certified Gold, Class A office property in Atlanta's Midtown and Downtown office markets

Office asset and land plot in the Netherlands

Europe

Active

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Office asset and land plot in the Netherlands

Sector: Office
Location: Europe
Fund: Lone Star Value-Add Fund I
Acquired: 2020
Status: Active

A 34,724 sqm office asset in the Netherlands and a development land plot of 5,000 sqm

Residential development site in Dublin

Europe

Active

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Residential development site in Dublin

Sector: Multifamily
Location: Europe
Fund: Lone Star Real Estate Fund V
Acquired: 2019
Status: Active

100-acre residential development site in Cherrywood, South Dublin

Office building in Paris CBD

Europe

Exited

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Office building in Paris CBD

Sector: Office
Location: Europe
Fund: Lone Star Real Estate Fund V
Acquired: 2018
Status: Exited (2019)

An 11,568 sqm. office building in the Central Business District of Paris

Multifamily residential portfolio in Japan

Japan

Exited

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Multifamily residential portfolio in Japan

Sector: Multifamily
Location: Japan
Fund: Lone Star Real Estate Fund V
Acquired: 2019
Status: Exited (2024)

150-asset, 1,336-unit multifamily residential portfolio heavily weighted to the Tokyo, Osaka and Nagoya metropolitan areas

ServiHabitat and CRE REO portfolio

Europe

Active

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ServiHabitat and CRE REO portfolio

Sector: Multifamily
Location: Europe
Fund: Lone Star Real Estate Fund V and Lone Star Fund X
Acquired: 2018
Status: Active

$5,614.7 million Spanish REO portfolio and ServiHabitat, an NPL/REO servicer

Office building in Osaka CBD

Japan

Exited

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Office building in Osaka CBD

Sector: Office
Location: Japan
Fund: Lone Star Real Estate Fund V
Acquired: 2018
Status: Exited (2022)

Class-A, large-scale 26-floor office building on the east side of the Osaka central business district

Multipurpose CRE assets in the Netherlands

Europe

Exited

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Multipurpose CRE assets in the Netherlands

Sector: Multipurpose CRE Assets
Location: Europe
Fund: Lone Star Real Estate Fund V
Status: Exited

Portfolio of 77 properties in the Netherlands, mainly retail assets and two office assets

Buildable land in Chicago

North America

Exited

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Buildable land in Chicago

Sector: Other
Location: North America
Fund: Lone Star Real Estate Fund IV
Acquired: 2016
Status: Exited (2024)

29.86 buildable acres of prime infill land in Chicago’s Lincoln Park neighborhood

Senior Living portfolio in the U.K.

Europe

Exited

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Senior Living portfolio in the U.K.

Sector: Senior Living
Location: Europe
Fund: Lone Star Real Estate Fund IV
Acquired: 2016
Status: Exited (2020)

Senior living portfolio comprising 79 elderly and nursing care homes (4,219 beds)

Office/retail building outside of Tokyo

Japan

Exited

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Office/retail building outside of Tokyo

Sector: Office
Location: Japan
Fund: Lone Star Real Estate Fund IV
Acquired: 2016
Status: Exited (2018)

26-story, grade-A office building comprising six stories of office over retail with 313,149 sq.ft of total net rentable area

Logistics building outside of Tokyo

Japan

Exited

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Logistics building outside of Tokyo

Sector: Industrial
Location: Japan
Fund: Lone Star Real Estate Fund IV
Acquired: 2016
Status: Exited (2019)

Five-story modern logistics building outside of Tokyo

Multifamily assets across Japan

Japan

Exited

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Multifamily assets across Japan

Sector: Multifamily
Location: Japan
Fund: Lone Star Real Estate Fund IV
Acquired: 2016
Status: Exited (2018)

Portfolio of 138 multifamily residential properties in 16 Japanese cities

Diversified office assets

North America

Exited

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Diversified office assets

Sector: Office
Location: North America
Fund: Lone Star Real Estate Fund IV
Acquired: 2015
Status: Exited (2021)

40 diversified Class A‐/B office assets

Home Properties

North America

Exited

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Home Properties

Sector: Multifamily
Location: North America
Fund: Lone Star Real Estate Fund IV
Acquired: 2015
Status: Exited (2019)

A multifamily REIT based in New York

Diversified office property assets

North America

Exited

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Suburban office property assets

Sector: Office
Location: North America
Fund: Lone Star Real Estate Fund IV
Acquired: 2015
Status: Exited (2021)

40 Class A and B suburban office property assets comprising 2.5 million sq.ft.

13 suburban office properties

North America

Exited

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13 suburban office properties

Sector: Office
Location: North America
Fund: Lone Star Real Estate Fund IV
Acquired: 2015
Status: Exited (2022)

13 Class A and B suburban office properties

Multipurpose CRE assets across Japan

Japan

Exited

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Multipurpose CRE assets across Japan

Sector: Multipurpose CRE Assets
Location: Japan
Fund: Lone Star Real Estate Fund IV
Acquired: 2015
Status: Exited (2018)

59 commercial real estate assets in various regions throughout Japan

Multipurpose CRE assets across North America

North America

Exited

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Multipurpose CRE assets across North America

Sector: Multipurpose CRE Assets
Location: North America
Fund: Lone Star Real Estate Fund IV
Acquired: 2015
Status: Exited (2021)

53 assets consisting primarily of Class B suburban office and industrial properties totaling 5.3 million sq.ft.

Investment assets and development sites in the U.K.

Europe

Exited

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Investment assets and development sites in the U.K.

Sector: Industrial
Location: Europe
Fund: Lone Star Real Estate Fund III
Acquired: 2015
Status: Exited (2017)

Four built and leased investment assets and three development sites in the U.K.

Multipurpose CRE assets across the U.K.

Europe

Exited

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Multipurpose CRE assets across the U.K.

Sector: Multipurpose CRE Assets
Location: Europe
Fund: Lone Star Real Estate Fund III
Acquired: 2015
Status: Exited (2020)

Grade A offices, provincial hotels, a leading U.K. escorted tour operator, student accommodation, mixed-use properties and a home reversions portfolio

CRE-Related Operating Companies

GreenCity Immobilier

Europe

Active

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GreenCity Immobilier

Sector: Multifamily
Location: Europe
Fund: Lone Star Real Estate Fund VI
Acquired: 2021
Status: Active

A leading regional residential developer in the Occitanie (Toulouse) region of France

McCarthy Stone

Europe

Active

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McCarthy Stone

Sector: Senior Living
Location: Europe
Fund: Lone Star Real Estate Fund VI
Acquired: 2021
Status: Active

A leading retirement house builder in the U.K.

Isaria

Europe

Exited

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Isaria

Sector: Multifamily
Location: Europe
Fund: Lone Star Real Estate Fund IV
Acquired: 2016
Status: Exited (2022)

A German residential developer

Centrice

Europe

Exited

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Centrice

Sector: Multipurpose CRE Assets
Location: Europe
Fund: Lone Star Real Estate Fund IV
Acquired: 2016
Status: Exited (2019)

$446.3 million acquisition of real estate operating company, comprising 31 commercial real estate assets in Slovenia, Bosnia, Croatia, Serbia and Macedonia

Quintain

Europe

Active

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Quintain

Sector: Multipurpose CRE Assets
Location: Europe
Fund: Lone Star Real Estate Fund IV
Acquired: 2015
Status: Active

A U.K. development and investment company with a principal asset around London's Wembley Stadium

Neinor Homes

Europe

Exited

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Neinor Homes

Sector: Multipurpose CRE Assets
Location: Europe
Fund: Lone Star Real Estate Fund III
Acquired: 2015
Status: Exited (2018)

A Spanish residential developer

Vilamoura

Europe

Exited

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Vilamoura

Sector: Multipurpose CRE Assets
Location: Europe
Fund: Lone Star Real Estate Fund III
Acquired: 2015
Status: Exited (2021)

Resort in Portugal includes finished products, land plots totaling 571,000 sqm and a 825-berth marina, along with a development company

Jurys Inn

Europe

Exited

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Jurys Inn

Sector: Lodging
Location: Europe
Fund: Lone Star Real Estate Fund III
Acquired: 2015
Status: Exited (2018)

A U.K. and Ireland owner and operator of mid-market hotels

CRE Distressed Debt & REO Portfolios

Debt secured by CRE assets

North America

Active

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Debt secured by CRE assets

Sector: Other
Location: North America
Fund: Lone Star Real Estate Fund VII
Acquired: 2024
Status: Active

Seven whole loans totaling $376 million UPB, with multiple asset classes as collateral including office, retail and multifamily

Lodging portfolio in Japan

Japan

Active

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Lodging portfolio in Japan

Sector: Lodging
Location: Japan
Fund: Lone Star Real Estate Fund VI
Acquired: 2022
Status: Active

A portfolio of 68 Japanese-style hot spring hotels (“ryokans”) and three other assets, along with two leading ryokan operating companies

Loan secured by a U.K. hotel portfolio

Europe

Active

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Loan secured by a U.K. hotel portfolio

Sector: Lodging
Location: Europe
Fund: Lone Star Real Estate Fund VI
Acquired: 2021
Status: Active

A rescue financing package comprised of a loan secured by a hotel portfolio (four hotels and 47 residential apartments atop one of the hotels) in the U.K.

Strategic credit

Japan

Exited

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Strategic credit

Sector: Office/Lodging
Location: Japan
Fund: Lone Star Real Estate Fund VI
Acquired: 2019
Status: Exited (2021)

¥206.5 billion ($1.894 billion) financing package for a newly formed, employee-owned company to finance its take-private transaction of a Japanese commercial real estate company

NPL portfolios

China

Active

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NPL portfolios

Location: China
Fund: Lone Star Real Estate Fund V
Acquired: 2016
Status: Active

Seven CRE NPL portfolios in China including 770 NPL loans, representing ¥6,854.8 million ($1 billion) in UPB across China

Loan and REO asset portfolio

Europe

Exited

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Loan and REO asset portfolio (Propertize)

Sector: Other
Location: Europe
Fund: Lone Star Real Estate Fund V
Acquired: 2016
Status: Exited (2022)

Pan‐European portfolio of loans and REO assets and the existing platform

NPL portfolio

Europe

Active

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NPL Portfolio

Sector: Other
Location: Europe
Fund: Lone Star Real Estate Fund IV
Acquired: 2015
Status: Active

Portfolio of senior bilateral NPLs secured by collateral comprising two large land sites in the Greater Dublin area

Performing loan program

North America

Active

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Performing loan program

Sector: Other
Location: North America
Fund: Lone Star Real Estate Fund IV
Acquired: 2015
Status: Active

Loan program for the origination and acquisition of Performing Loans

CRE loan portfolio

Europe

Exited

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CRE loan portfolio

Sector: Other
Location: Europe
Fund: Lone Star Real Estate Fund IV
Acquired: 2015
Status: Exited (2020)

Loan portfolio, secured by U.K. commercial property, comprising 220 engagements, 295 borrowers and 928 loans secured against 1,022 properties across the U.K.

$787.3 Billion

$176.8 Billion

443

Portfolio highlights

Direct CRE Equity

Multipurpose CRE assets across the U.K.

Office building in Central Tokyo

Multipurpose CRE assets in Scotland

Multifamily asset in Tokyo

Tokyu Hotel Tokyo Bay hotel and operating company

Multipurpose CRE assets in Tokyo suburb

Multifamily asset near central Tokyo

Brussels hotel and retail assets

Multifamily asset in Scottsdale, Arizona

Multifamily assets in Sun Belt markets

Multifamily assets in Sun Belt markets

Multifamily asset in central Tokyo

Office assets in Poland

Student housing assets in the U.K.

Warehouse parks in Scotland and Wales

Multifamily assets in Houston, Texas

Multifamily asset in Buckhead, Atlanta

Retail assets in Florida and Alabama

Luxury hotels in the U.S.

Multifamily in Buckhead Village, Atlanta

Senior living assets in North America

Multipurpose asset in Osaka

Senior living assets in North America

Multifamily assets in Houston, Texas

Office asset in Luxembourg

Student housing assets in the U.K.

Multifamily assets in Dallas-Fort Worth

Multifamily assets in Greater Tokyo

Office asset in downtown Atlanta

Office asset and land plot in the Netherlands

Residential development site in Dublin

Office building in Paris CBD

Multifamily residential portfolio in Japan

ServiHabitat and CRE REO portfolio

Office building in Osaka CBD

Multipurpose CRE assets in the Netherlands

Buildable land in Chicago

Senior Living portfolio in the U.K.

Office/retail building outside of Tokyo

Logistics building outside of Tokyo

Multifamily assets across Japan

Diversified office assets

Home Properties

Diversified office property assets

13 suburban office properties

Multipurpose CRE assets across Japan

Multipurpose CRE assets across North America

Investment assets and development sites in the U.K.

Multipurpose CRE assets across the U.K.

CRE-Related Operating Companies

GreenCity Immobilier

McCarthy Stone

Isaria

Centrice

Quintain

Neinor Homes

Vilamoura

Jurys Inn

CRE Distressed Debt & REO Portfolios

Debt secured by CRE assets

Lodging portfolio in Japan

Loan secured by a U.K. hotel portfolio

Strategic credit

NPL portfolios

Loan and REO asset portfolio

NPL portfolio

Performing loan program

CRE loan portfolio