Columbia Property Trust completes disposition of private real estate investment funds to Cannon Hill Capital Partners

Columbia Property Trust has completed the disposition of certain private real estate funds to Cannon Hill Capital Partners, a newly formed investment manager led by Jeffrey Gronning, Eric Rubin, and Melissa Cosgrove Donohoe, all former senior executives of Columbia.

Through the transaction, Cannon Hill has acquired from Columbia the general-partner interests and management rights for the Normandy Real Estate Fund III, LP; Normandy Real Estate Fund IV, LP; and Normandy Opportunity Zone Fund, LP; as well as two separate accounts and related third-party property management contracts. Per the terms of the transaction, Cannon Hill will assume the employment of a team of about 50 real estate professionals from Columbia, including Gronning, Rubin, and Cosgrove Donohoe, providing a seamless transition of property and portfolio management. Cannon Hill’s portfolio under management includes properties in Boston, New York, and Washington, D.C.

The transaction has no impact on C