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Almanac Realty is taking a Passive, Minority Stake in Chicago based real estate firm Waterton

Almanac Realty to Take Passive, Minority Stake in Chicago’s Waterton

Chicago-based Waterton, a national real estate investor and operator, and Almanac Realty Investors, the private real estate investment arm of Neuberger Berman, have reached an agreement with a fund managed by Almanac to acquire a passive, minority ownership stake in Waterton.  

The strategic investment will provide additional resources to Waterton while having no impact on the day-to-day management, operations or business decision-making process.  

Waterton will leverage the capital partnership for continued investment in new business initiatives and the growth of its multifamily, single family rental, seniors housing and hospitality strategies, as well as a focus on attracting, retaining and growing the firm’s talent.   

“The transaction is an exciting development for our organization and we believe that Almanac will be a great strategic partner for Waterton,” said David Schwartz, CEO and chairman at Waterton.  

He continued, “Almanac’s permanent capital, deep real estate experience and access to a range of global resources through Neuberger Berman, including its private wealth channel, will support the continued growth of Waterton and enhance the business platform over the long term.” 

Andrew Silberstein, managing director and head of private markets at Almanac, said, “Waterton has built a reputation, over the firm’s long history, as a best-in-class real estate investment manager, with particular expertise and operating capability in the multifamily sector. We are proud to be partnering with this impressive team on this next phase of their growth.” 

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About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.

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