The Cleveland-based advisory and manager is looking to tap into private wealth channels following the close of the deal.
The firm’s chief executive Manfredi Catella is also looking to partner with other Italian institutions on a range of real estate initiatives.
The partial exit by the Toronto-based manager and its joint venture partner Investment Corporation of Dubai is a marker for institutional investors looking at doing business in the region, Jad Ellawn, Brookfield’s head of Middle East, told PERE.
Jesse Hom will join the firm in June as it looks to expand its real estate presence amid bank lending pullback.
Proprium has exited its 35% stake in the European hotel business to its co-owner, 17 years after making its original investment.
The mega-manager's sale of trophy asset Via Montenapoleone 8 marks Italy’s largest-ever single-asset transaction.
A market’s depth, breadth and historical trading reveal how quickly it may recover from today’s property crisis, says Tom Leahy, MSCI's head of EMEA real assets research.
US hotel owner-operator MCR Hotels has agreed to purchase the telecommunications tower from BT Group for a reported £275m.
The firm started its sale process in August 2023 and received interest from five domestic investors and a foreign investor.
The acquisition comes eight months after the launch of the vehicle, which has a $5bn target, in August 2023.