The addition of Cromwell Europe will double Stoneweg’s AUM and expand its wheelhouse into multiple new markets, says founder Jaume Sabater.
The firm will shift to being a local manager given the difficulties of being global without vast scale, according to Cromwell’s CEO.
The four industrial properties located on the Texas-Mexico border were sold to two institutional buyers.
The historic five-star hotel on the Grand Canal has been closed since 2022 for renovation, and now has a new owner.
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.