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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • Minority interest in Aerium Group
  • NorthStar Realty Finance Corp.
  • Real Estate Managers
  • May 9, 2014
  • $8.6 Billion

Seller Details

Established in 1988, Aerium Group ("Aerium") is a pan-European real estate investment manager specializing in commercial real estate properties and is headquartered in Luxembourg with additional offices in London, Paris, Istanbul, Geneva, Duesseldorf and Bahrain.  Aerium manages €6.2 billion ($8.6 billion) of real estate assets across 12 countries and employs over 180 professionals.

Buyer Details

NorthStar Realty Finance Corp. ("NorthStar") is a publicly traded, diversified commercial real estate company that is organized as a REIT.  NorthStar is based in New York and has been listed on the NYSE under the symbol “NRF” since the company was founded in 2004.  NorthStar has announced a plan for a strategic spin-off of its asset management business into a separate, publicly traded asset manager, NorthStar Asset Management Group Inc.

Transaction Summary

In connection with its business strategy of growing its asset management business and expanding into international markets, NorthStar Realty Finance Corp. acquired a minority interest in Aerium Group for €50 million ($69 million).  Aerium and NorthStar are sourcing real estate acquisitions and loan originations across Europe.  Some professionals of Aerium will provide services to NorthStar Asset Management Group Inc.  
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