In a prepared statement, Immo president Michael Browarnik says the partnership will satisfy the needs of both companies since Ackman-Ziff wanted to break into the Florida market while Immo wanted a partnership with a reputable New York firm.
"We anticipate creating a very important dominant force in Florida to provide all forms of capital for real estate," Browarnik tells GlobeSt.com.
Last year, Ackman-Ziff logged $1.3 billion in real estate transactions while Immo did $250 million.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.