ÆRIUM, the European real estate fund manager, has sold a 15 percent stake in its operating business to NorthStar Realty Finance Corp, the NYSE-listed diversified commercial real estate investment company with $16.4 billion of assets under management. NRFC is structured as an externally managed REIT, managed by NorthStar Asset Management Group Inc. This transaction supports NSAM’s European expansion ambitions as it benefits from access to ÆRIUM’s established investment platform.
ÆRIUM, which has been established since 1988, currently manages circa €6.1 billion of real estate assets across 12 countries and is in the process of raising capital for its seventeenth fund, a Pan-European Value-Add Fund.
Franck Ruimy, CEO of Ærium, said: “This transaction marks a natural evolution of our business, providing further opportunities to grow our assets under management with a fully aligned and ambitious partner. NRFC’s shareholding acts as an endorsement of the investment expertise, professionalism and asset management competence of ÆRIUM. We look forward to embarking on a long and fruitful relationship with NRFC and NSAM.”
Savills Investment Management (Savills IM), the international real estate investment manager, transacted more than €3.6 billion globally in private real estate equity transactions in 2022 including c. €3.1 billion...