Merritt Properties has announced a $750 million strategic investment led by global investment firm Centerbridge Partners. This includes dedicated growth capital to support the continued expansion of the company’s shallow-bay industrial portfolio across existing markets and into select new markets.
As part of the agreement, Centerbridge acquired the ownership interest previously held by Almanac, the private real estate investment arm of Neuberger, which has partnered with Merritt since 1997. That relationship helped fuel Merritt's evolution into one of the largest privately held commercial real estate companies in the Mid-Atlantic and Southeast. In connection with the transaction announced today, Almanac reaffirmed its support for Merritt through its participation in the Centerbridge-led investment.
As Merritt enters its next phase of growth, President Robb Merritt has been appointed chief executive officer. Over his nearly four decades with the company, he has played
