{"id":1004654511,"date":"2023-03-30T10:06:54","date_gmt":"2023-03-30T18:06:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004654511"},"modified":"2023-03-30T10:06:55","modified_gmt":"2023-03-30T18:06:55","slug":"conning-acquires-majority-stake-in-pearlmark","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/conning-acquires-majority-stake-in-pearlmark\/","title":{"rendered":"Conning Acquires Majority Stake in Pearlmark"},"content":{"rendered":"
\"Stephen<\/a>

Stephen Quazzo, Co-Founder & CEO, Pearlmark Real Estate. Image courtesy of Pearlmark Real Estate<\/em><\/p><\/div>\n

Global investment management firm Conning<\/strong>, of Hartford, Conn., has completed its acquisition of a majority ownership stake in Chicago-based Pearlmark Real Estate<\/strong> LLC, an investment manager specializing in commercial real estate debt and equity strategies, Conning announced Wednesday.<\/p>\n

\n

READ ALSO<\/strong>: How Much Will Investors, Lenders Reduce Activity?<\/a><\/p>\n

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First announced last November, the transaction is intended to add real estate expertise to Conning\u2019s investment capabilities, while providing Pearlmark with support to strengthen and grow its platform. Conning highlighted the expanded range of investment options that the deal makes available to insurers and other institutional investors.<\/p>\n

\"Doug<\/a>

Doug Lyons, Managing Principal, Pearlmark Real Estate. Image courtesy of Pearlmark Real Estate<\/em><\/p><\/div>\n

Financials on the deal were not disclosed.<\/p>\n

Pearlmark reportedly will continue to operate autonomously, with its investment team led by CEO and co-founder Stephen Quazzo and Managing Principal Doug Lyons.<\/p>\n

Morgan, Lewis & Bockius<\/strong> LLP was Conning\u2019s legal advisor. CenterCap Group<\/strong> LLC was Pearlmark\u2019s financial advisor and Drane & Freyer<\/strong> Ltd. its legal advisor.<\/p>\n

Widely active CRE investor<\/h2>\n

Pearlmark targets core, value-add and opportunistic real estate opportunities through commingled funds, separate accounts and joint venture structures across various property types (office, industrial and multifamily) nationwide. Since 1996, the company has completed 565 real estate equity and debt transactions on behalf of investors, representing $5.3 billion in equity capital commitments and over $13.8 billion in gross investment value.<\/p>\n

Last March, a joint venture of Pearlmark, Hines<\/strong> and a undisclosed limited partnership secured a $135.7 million loan to refinance<\/a> 1125 17th St., in downtown Denver. The five-year, floating-rate loan on the 494,689-square-foot office building was provided by Deutsche Bank<\/strong> and arranged by JLL Capital Markets<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The deal is intended to broaden Conning\u2019s capabilities while deepening Pearlmark\u2019s resources. <\/p>\n","protected":false},"author":882,"featured_media":1004654609,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,23891,21742],"tags":[51948,33429],"class_list":["post-1004654511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-national","category-latest","tag-conning","tag-pearlmark-real-estate-partners"],"acf":[],"yoast_head":"\nConning Acquires Majority Stake in Pearlmark - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Global investment management firm has completed its acquisition of a majority ownership stake in Chicago-based Pearlmark Real Estate.\" \/>\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\/conning-acquires-majority-stake-in-pearlmark\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Conning Acquires Majority Stake in Pearlmark\" \/>\n<meta property=\"og:description\" content=\"Global investment management firm has completed its acquisition of a majority ownership stake in Chicago-based Pearlmark Real Estate.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/conning-acquires-majority-stake-in-pearlmark\/\" \/>\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=\"2023-03-30T18:06:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-30T18:06:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Stephen-Quazzo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"811\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\/conning-acquires-majority-stake-in-pearlmark\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/conning-acquires-majority-stake-in-pearlmark\/\",\"name\":\"Conning Acquires Majority Stake in Pearlmark - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/conning-acquires-majority-stake-in-pearlmark\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/conning-acquires-majority-stake-in-pearlmark\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Stephen-Quazzo.jpg\",\"datePublished\":\"2023-03-30T18:06:54+00:00\",\"dateModified\":\"2023-03-30T18:06:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Global investment management firm has completed its acquisition of a majority ownership stake in Chicago-based Pearlmark Real Estate.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/conning-acquires-majority-stake-in-pearlmark\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/conning-acquires-majority-stake-in-pearlmark\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/conning-acquires-majority-stake-in-pearlmark\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Stephen-Quazzo.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Stephen-Quazzo.jpg\",\"width\":811,\"height\":600,\"caption\":\"Stephen Quazzo, Co-Founder & CEO, Pearlmark Real Estate. 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