Aerium has sold a 15% stake in its operating business to NorthStar Realty Finance Corp.
NorthStar is a listed REIT with £10.4bn of assets under management.
Aerium currently manages circa £4.3bn of property across 12 countries and is in the process of raising capital for its seventeenth fund, a European value-add fund.
The 15% stake does not give NorthStar access to Aerium’s existing portfolio, but the pair have already closed a joint venture deal for Duke’s Court in Woking, Surrey.
Aerium has also agreed to show NorthStar the deal pipeline that matches its investment criteria.
Franck Ruimy, chief executive of Aerium, said: “This transaction marks a natural evolution of our business, providing further opportunities to grow our assets under management with a fully aligned and ambitious partner.”
