Corten Real Estate Partners and GCM Grosvenor have partnered up to create a $50 million separate account to invest in special situation and distressed investment opportunities involving multifamily, hospitality and office properties in the Mid-Atlantic region.
The separate account will complement Corten's commingled funds and invest where they may be capital constrained or facing concentration risks. According to the firm, Corten Real Estate Fund I will have the option to purchase a portion of any investments made and warehoused by the separate account for a finite period of time.
“We are excited to partner with such a reputable firm as GCM Grosvenor and to have the opportunity to serve as a fiduciary for its emerging manager programs which are backed by some of the largest and most innovative public pension plans in the country,” said P. J. Yeatman, managing partner at Corten. “GCM Grosvenor and its team members bring strategic insight and deep industry relation
