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GIC real estate leader Tracy Stroh to leave at Sept. 30

Stroh’s exit follows the July resignation of European real estate managing director Iain Cahoon, with Cahoon set to depart at year end.

Reported · Written up by our desk · Industry

Tracy Stroh, head of European real estate at Singapore sovereign wealth fund GIC, is leaving after 25 years with the firm, Green Street News reported.

Stroh will depart on September 30 and return to the United States, where she will take a six-month gardening leave, according to the report. The sources say she does not have a new role lined up.

The move comes after a separate leadership change in GIC’s European real estate business. In July, European real estate managing director Iain Cahoon resigned, with his departure set for the end of the year.

Stroh’s tenure included large European and logistics transactions, such as GIC’s roughly 20% equity contribution to Blackstone’s Mileway, valuing the platform at €21B, as well as UK and Irish deals including the acquisition of a 75% stake in British Land’s Paddington Central campus for £700M and the purchase of Horizon Logistics Park in Dublin for €500M. GIC manages about £800B in assets and targets a real estate allocation between 9.0% and 13.0%.

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