Almanac Realty Investors has plans to acquire a passive, minority ownership stake in Dermody Properties. The strategic investment should provide additional resources to Dermody Properties while having no impact on the day-to-day management, operations or business decision-making process.
Dermody Properties seeks to leverage the capital partnership for continued investment in the growth of its logistics strategies, as well as a focus on attracting, retaining and growing the firm’s talent.
“We believe that Almanac will be an excellent strategic partner for Dermody Properties,” said Michael Dermody, executive chairman at Dermody Properties. “Almanac’s permanent capital, deep real estate experience and access to a range of global resources through Neuberger Berman will support the continued growth of Dermody and enhance our business platform for years to come.”
“We are thrilled to announce a third partnership in our minority stakes strategy with one of
