The 16-year GIC real estate veteran will replace Gallistel, who is joining CBRE IM as the co-chief executive.
The 10-year Treasury last week hit its highest level since April, rising to 4.7 percent on January 8.
Donner, who fills a newly created role, joins the firm from PIMCO Prime Real Estate.
The pension fund’s plans involve committing to several debt and equity managers, and appointing a new investment consultant.
Dhaval Parikh previously ran the Los Angeles-based manager’s real estate debt platform capital raising efforts.
Chicago-based manager was part of the capital stack for the construction financing on The Edison, a 378-unit, mass timber luxury apartment building in Milwaukee.
Industry veteran Brad Cohen will be integral for risk management and identifying growth opportunities.
Fund is the largest the partners have raised since kicking off their partnership.
The financing for Fisher Brothers includes $108m of C-PACE capital.
The investment manager rearranged the capital stack and secured a debt infusion on five multifamily properties in the Sun Belt region.