{"id":1004173876,"date":"2017-04-24T05:18:53","date_gmt":"2017-04-24T13:18:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004173876"},"modified":"2022-12-05T19:58:21","modified_gmt":"2022-12-06T03:58:21","slug":"normandy-ntt-urban-form-strategic-partnership","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/normandy-ntt-urban-form-strategic-partnership\/","title":{"rendered":"Normandy, NTT Urban Form Strategic Partnership"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

\"Finn<\/a>

Finn Wentworth, co-founder and partner, Normandy<\/p><\/div>\n

Building on a successful history of transactions together, Normandy Real Estate Partners and NTT Urban Development Corp. recently took their relationship to the next level by entering into a strategic partnership. Per terms of the deal, NTTUD, the real estate division of Tokyo, Japan-based Nippon Telegraph and Telephone Corp., acquired a 15 percent common equity interest in Normandy\u2019s management platform.<\/p>\n

The new partnership fortifies both Normandy and NTTUD for the expansion of investment activities in the office and mixed-use sectors in various urban and transit-oriented areas of Normandy\u2019s core markets: New York, Boston and Washington, D.C.<\/p>\n

\u201cToday\u2019s news puts Normandy in a position to continue delivering superior results for all of our investors and partners,\u201d<\/em> Finn Wentworth, co-founder and partner, Normandy Real Estate Partners, said in a prepared statement. \u201cJapanese investors are expected to be a growing and important source of equity capital targeting real estate investment in the U.S. Our affiliation with NTTUD will leave us strategically well positioned for future growth.\u201d<\/em><\/p>\n

Japan\u2019s outbound investment in real estate totaled $3 billion in 2016, and most of it targeted the U.S., according to research by commercial real estate services firm CBRE Group. \u201cWe expect Japan to step-up overseas investment in the year ahead as they are coming off a low base,\u201d<\/em> Robert Fong, director of research with CBRE, said in prepared remarks.<\/p>\n

The new arrangement between Normandy and NTTUD comes four years after NTTUD made its first foray into the U.S. with its co-investment in the $54.5 million acquisition of the 138,000-square-foot office tower at 125 W. 25th St. in New York, through Normandy Real Estate Fund III. Normandy and NTTUD have since co-invested on five additional endeavors\u2014and\u00a0sold 125 W. 25th<\/a> to Swiss pension fund AFIAA for $150 million in December 2016.<\/p>\n

Normandy\u2019s sale of an interest to NTTUD will have no impact on leadership at the real estate operator and fund manager. Wentworth and his co-founders and partners David Welsh and Jeff Gronning will still control the company, which will see no interruption in the raising of commingled real estate funds and joint ventures.<\/p>\n","protected":false},"excerpt":{"rendered":"

This move guarantees both firms investment activity growth in the office and mixed-use sectors in various urban and transit-oriented areas in core markets, including New York and D.C.<\/p>\n","protected":false},"author":969,"featured_media":1004173883,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,23891,21742],"tags":[],"class_list":["post-1004173876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-national","category-latest"],"acf":[],"yoast_head":"\nNormandy, NTT Urban Form Strategic Partnership - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/normandy-ntt-urban-form-strategic-partnership\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Normandy, NTT Urban Form Strategic Partnership\" \/>\n<meta property=\"og:description\" content=\"This move guarantees both firms investment activity growth in the office and mixed-use sectors in various urban and transit-oriented areas in core markets, including New York and D.C.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/normandy-ntt-urban-form-strategic-partnership\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-24T13:18:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T03:58:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/ThreeTrustees2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/normandy-ntt-urban-form-strategic-partnership\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/normandy-ntt-urban-form-strategic-partnership\/\",\"name\":\"Normandy, NTT Urban Form Strategic Partnership - 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