Clarion Partners has acquired a majority stake in Gramercy Europe for an undisclosed amount. Gramercy Europe will become an operating business of Clarion and be rebranded as Clarion Gramercy, maintaining its offices in London, Berlin and Barcelona. The transaction marks the company's debut in the European market and represents its strategic commitment to furthering growth opportunities for its investment affiliates.
David Gilbert, Clarion Partners’ CEO, commented: “We are very excited to broaden the investment reach of Clarion Partners into the European markets. Clarion Gramercy and its seasoned team are a natural extension of Clarion’s leadership position in the US, managing a €14.2bn ($16bn), 700-property portfolio of logistics assets. We are pleased to be in a position to expand our product offerings to investors and to satisfy existing tenants that have needs beyond the Americas."
Alistair Calvert said: “The Gramercy Europe management team has been able to consistently extract upside on behalf of its investors through identifying, acquiring, managing and disposing of institutional quality properties in key logistics locations throughout Western Europe. We plan to continue capitalizing on the expansion of the undersupplied European logistics property market and leveraging the deep relationships that we have built with some of Europe’s leading businesses. We expect ongoing demand from a range of occupiers that span Europe and the US, fueled by the growth in ecommerce and expanded trade. We are excited by the synergies created by joining the Clarion Partners investment management platform, and we look forward to enhancing our global investment management business.”
