GCM Grosvenor has created a $50 million separate account with Delaware firm Corten Real Estate Partners.
The deal supports Corten’s special situation and distressed investment opportunistic strategy that is focused on multifamily, hospitality and office properties in the Mid-Atlantic region specifically. The strategy complements the firm’s existing commingled funds. In fact, the Corten Real Estate Fund I will have the option to purchase a portion of any investments made and warehoused in the Grosvenor separate account for a finite period of time.
“We are excited to partner with such a reputable . . .
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