Key Takeaways
- • Independence Realty Trust and Centerspace agreed to an all-stock merger creating a multifamily REIT with a pro forma enterprise value of about $8.1 billion and 44,354 apartment units across 163 communities in 17 states, with closing expected as early as the end of Q4 2026.
- • Crusoe announced the initial closing of an anticipated $3.9 billion Series F at a $30.9 billion post-money valuation, co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners.
- • EQT Real Estate Industrial Value Fund VI acquired a 5.2 million square foot Southern California logistics portfolio from Rexford Industrial Realty for about $1.2 billion, a 96% leased portfolio with a 2.7-year weighted average lease term.
- • Ken Griffin's purchase of roughly 30 acres of Moishe Mana's Wynwood assemblage for approximately $1.1 billion was described as the largest land assemblage deal in Florida history, with the site planned as a Carnegie Mellon University campus.
- • Sun Communities completed the sale of its UK assets, including Park Holidays, to an affiliate of Aermont Capital for net cash of about $1.03 billion, making it a pure-play North American manufactured housing and RV owner.
Summary
Dakota Private Markets published its list of the top 10 real estate transactions for September 2026, drawing on its database of more than 32,000 searchable private market deals. The leading transaction was the all-stock merger of Independence Realty Trust and Centerspace, valued at a pro forma enterprise value of about $8.1 billion. Centerspace shareholders will receive 3.800 IRT shares per share, with IRT holders owning about 78% of the combined company. The companies expect the deal to be about 5% accretive to 2027 Core FFO per share, with roughly $24 million of annualized synergies, subject to shareholder approvals and lender consents.
In data center and AI infrastructure, Crusoe announced the initial closing of an anticipated $3.9 billion Series F at a $30.9 billion post-money valuation. Atreides Management, Mubadala Capital, and Valor Equity Partners co-led the round, with participation from Founders Fund, GIC, NVIDIA, Qatar Investment Authority, Radical Ventures, and TPG, among others. Separately, Vantage Data Centers closed a $2 billion five-year revolving credit facility to fund early-stage development across its North American platform. Evercore and Wells Fargo Securities were lead arrangers, with about a dozen insurance and institutional investors participating.
Industrial real estate activity included EQT Real Estate Industrial Value Fund VI's acquisition of a 32-building, 5.2 million square foot Southern California logistics portfolio from Rexford Industrial Realty, reported at about $1.2 billion. More than half of the square footage is infill space within about 25 miles of the LA/Long Beach port complex. KKR and Mirastar also completed the acquisition of eight UK logistics assets totaling 2.7 million square feet from Ares Real Estate funds, reported at about $400 million, with the portfolio fully occupied and about 60% of rent from investment-grade tenants.
Other notable deals included Ken Griffin's purchase of approximately 30 acres of Moishe Mana's Wynwood assemblage for approximately $1.1 billion on September 29, 2026, and Sun Communities' sale of its UK assets to Panther Bidco Limited, an Aermont Capital affiliate, for net cash of about $1.03 billion. Sun plans to use the proceeds primarily for share repurchases and debt reduction. Apollo-managed funds provided $585 million of hybrid financing to The Executive Centre, and American Healthcare REIT acquired six senior living communities from Kensington Senior Living for about $572 million. National Healthcare Properties agreed to sell 40 outpatient medical facilities for about $531 million, a 6.9% nominal cap rate, as it exits outpatient medical to focus on SHOP senior housing.
In data center and AI infrastructure, Crusoe announced the initial closing of an anticipated $3.9 billion Series F at a $30.9 billion post-money valuation. Atreides Management, Mubadala Capital, and Valor Equity Partners co-led the round, with participation from Founders Fund, GIC, NVIDIA, Qatar Investment Authority, Radical Ventures, and TPG, among others. Separately, Vantage Data Centers closed a $2 billion five-year revolving credit facility to fund early-stage development across its North American platform. Evercore and Wells Fargo Securities were lead arrangers, with about a dozen insurance and institutional investors participating.
Industrial real estate activity included EQT Real Estate Industrial Value Fund VI's acquisition of a 32-building, 5.2 million square foot Southern California logistics portfolio from Rexford Industrial Realty, reported at about $1.2 billion. More than half of the square footage is infill space within about 25 miles of the LA/Long Beach port complex. KKR and Mirastar also completed the acquisition of eight UK logistics assets totaling 2.7 million square feet from Ares Real Estate funds, reported at about $400 million, with the portfolio fully occupied and about 60% of rent from investment-grade tenants.
Other notable deals included Ken Griffin's purchase of approximately 30 acres of Moishe Mana's Wynwood assemblage for approximately $1.1 billion on September 29, 2026, and Sun Communities' sale of its UK assets to Panther Bidco Limited, an Aermont Capital affiliate, for net cash of about $1.03 billion. Sun plans to use the proceeds primarily for share repurchases and debt reduction. Apollo-managed funds provided $585 million of hybrid financing to The Executive Centre, and American Healthcare REIT acquired six senior living communities from Kensington Senior Living for about $572 million. National Healthcare Properties agreed to sell 40 outpatient medical facilities for about $531 million, a 6.9% nominal cap rate, as it exits outpatient medical to focus on SHOP senior housing.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.