Baird's Investment Banking Group is pleased to announce the following transaction:

Date:
January 2021
Company:
ACRE
Description:
Strategic Investment from Almanac Realty Investors
Sector(s):
Real Estate
Baird served as exclusive financial advisor to ACRE on this transaction

ACRE (the “Company”) has received a $320mm capital commitment from Almanac Realty Investors (“Almanac”), a portfolio company of Neuberger Berman. The investment will serve to provide strategic growth capital to ACRE’s general partner and investment manager as well as anchor investments in their upcoming series of real estate private equity and debt funds, focused on multifamily investments.

ACRE, founded in 2011, is a global real estate private equity firm managing capital for institutional and family office investors through a series of private equity and debt funds which have invested over $2.7 billion, concentrated in multifamily related strategies. ACRE is a vertically integrated owner operator specializing in multifamily real estate through active investments in both direct equity and debt capital markets as well as special situation opportunities. ACRE manages a global portfolio with offices in Atlanta, New York and Singapore. Since its inception, the Company has acquired, operated, developed and made loans on over 22,000 apartments across 75 properties and 31 cities. ACRE’s strategies focus on direct real estate equity and credit investments and are concentrated in the United States, with additional properties currently in development in Southeast Asia and the United Kingdom. ACRE is headquartered in New York, New York.

Almanac Realty Investors’ (together with its predecessor, Rothschild Realty, Inc.) primary activity has been making growth capital investments into private and public companies which own and operate real estate in North America. Almanac managed funds have committed over $6.1 billion to 46 companies. Almanac’s portfolio companies are structured to combine proven management teams within a specific real estate sector together with ownership of focused portfolios of real estate assets and interests. These companies are governed by a board of directors consisting primarily of representatives from the management teams and Almanac, with a focus on protecting and growing shareholder value, generating dividends, setting strategy, allocating capital and working with management to optimize resources. On January 31, 2020, Almanac became a part of Neuberger Berman. Almanac is headquartered in New York, New York.

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. Neuberger Berman manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 24 countries, Neuberger Berman’s diverse team has over 2,300 professionals. For seven consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. The PRI also awarded Neuberger Berman an A+ in every eligible category for our approach to ESG integration across asset classes. Neuberger Berman manages $405 billion in client assets as of December 31, 2020.

For additional information about this transaction, please contact:

Jim O’Brien +1-703-394-1814
Steven Goldberg +1-703-394-1808
Tim Stefanou +1-703-394-1829