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New York & Tri-State  + Downtown New York  + Finance  |  July 1, 2022
Paul Bubny
By: Paul Bubny

Columbia Property Trust Divests Normandy Funds to Former Execs 

Columbia Property Trust, Inc. has sold certain private real estate funds to Cannon Hill Capital Partners, LLC, a newly formed investment manager led by former Columbia executives Jeffrey Gronning, Eric Rubin, and Melissa Cosgrove Donohoe. The transaction covers the general partner interests and management rights for the Normandy Real Estate Fund III, LP; Normandy Real Estate Fund IV, LP; and Normandy Opportunity Zone Fund, LP; along with two separate accounts and related third-party property management contracts.

Deal terms weren’t disclosed. Cannon Hill’s portfolio under management includes properties in Boston, New York and Washington, DC. 

“The Columbia and Cannon Hill teams have long histories of serving our respective investors and partners by managing real estate assets for maximum value,” said Columbia president and CEO Nelson Mills. “This transaction allows each team to focus on our respective portfolios and opportunities for growth, further enhancing our ability to drive value for our stakeholders.”

Pictured: Columbia Property Trust headquarters. 

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Columbia Property TrustCannon Hill

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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