Macquarie Group has entered into an agreement to acquire 100% of the membership interests in Presidio Partners LLC, a real estate private capital raising and advisory firm. Terms of the transaction were not disclosed, and the transaction is expected to close in the fourth quarter, subject to customary closing conditions.
Combined, the two platforms have raised $30 billion for private real estate transactions from 390 institutions in Europe, North America, the Middle East and Asia Pacific since 2003.
‘The addition of the Presidio team to Macquarie's existing real estate platform will bolster our real estate offering and increases investor and client coverage across all major developed markets and key emerging markets,’ says Chris Green, c-global head of Macquarie Capital Advisors' real estate group.
The acquisition of Presidio's private capital team follows Macquarie's recent hire of a six-person commercial mortgage-backed securities team in the U.S.
"Macquarie will assist with proprietary and third-party overseas capital for potential U.S. investment opportunities, providing its full resources to our industry,’ adds Desi Co, a partner of Presidio. ‘We will work together to provide our key institutional relationships with globally accessed club and direct investment opportunities.’
Presidio has offices based in San Francisco and Chicago.
SOURCE: Presidio Partners