(Bloomberg) -- Proprium Capital Partners, a real estate firm with more than $4 billion of assets under management, is exploring strategic options including a sale, according to people with knowledge of the matter.
The firm is working with an adviser to contact potentially interested parties, said the people, who asked not to be identified discussing confidential information. No final decisions, including the structure of any transaction, have been made, and Proprium could opt not to proceed with a deal.
A representative for Stamford, Connecticut-based Proprium declined to comment.
The employee-owned firm, which has offices in London, Sydney, Hong Kong and elsewhere, was founded by alumnae of Morgan Stanley’s Real Estate Special Situations arm and counts Timothy Morris and Philipp Westermann as co-managing partners.
The firm has been active. In April, Proprium sold its 35% stake in European operator Motel One Group for €1.25 billion ($1.32 billion), and in July it agreed to invest in an Italian student-housing deal. Last week, the firm offered to acquire Australian property developer AVJennings Ltd.
Proprium is exploring options during a period of consolidation involving real estate-exposed alternative asset managers. Diversified firms have been acquisitive, seeking to expand their offerings to become one-stop shops for large institutional investors such as pensions and sovereign-wealth funds.
In October, Ares Management Corp. agreed to acquire GLP Capital Partners’ operations outside of China, and Blue Owl Capital Inc. agreed to buy IPI Partners.
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