L&G has plans to acquire a 75 percent stake in the global real estate investor Proprium.
This accelerates L&G’s private markets growth ambitions, broadening the real estate capabilities of the firm and unlocking new geographies, according to the release.
Founded in 2013, Proprium is a spinout of the Morgan Stanley Real Estate Special Situations team, which focuses on investing in real estate operating companies with scalable investment themes and experienced management teams. Proprium's strategy of platform investing seeks to deliver private equity returns in the real estate industry.
Proprium is active across residential, student accommodation, hospitality and logistics sectors, with past investments including stakes in Motel One. Proprium’s current investments include a&o Hostels in Germany, Admiral Taverns in the United Kingdom and Avid in Australia. In the last 18 months, Proprium has sold more than $1.8 billion of assets; acquired $1.6 bi
