Ivanhoé Cambridge announced today that it has selected Callahan Capital Partners (“CCP”) to join forces in the development of its U.S. office real estate platform and the management of its expanding office portfolio in that important market.
The strategic relationship with CCP allows Ivanhoé Cambridge to immediately access a fully operational stand-alone platform that will benefit from:
• access to a pipeline of investment opportunities, an extensive national network of contacts and local market knowledge;
• proven and efficient, market-specific asset management expertise;
• enhanced capabilities to execute large, complex transactions.
CCP’s mandate will be exclusive to Ivanhoé Cambridge and will contribute to delivering Ivanhoé Cambridge’s strategic plan.
“This is a great opportunity for Ivanhoé Cambridge to capitalize on CCP’s recognized expertise in the acquisition and management of office assets in the U.S., a priority market where we are seeking to develop a solid platform,” said Daniel Fournier, Chairman and CEO of Ivanhoé Cambridge. “The U.S. office market is very large and also very competitive. Our strategic relationship with CCP will enable us to significantly accelerate the development of our platform by quickly accessing investment opportunities and by benefiting from CCP’s deal-sourcing and execution capabilities.”
Mr. Fournier added: “We are happy to be able to work with one of the leading real estate teams in the U.S. to maximize our execution capacity and efficiency in this market.”
CCP’s management team is composed of seasoned professionals with valuable experience obtained with blue chip real estate companies and a proven track record of managing large real estate firms.
“As of one of the world’s top institutional real estate investors with a proven expertise, Ivanhoé Cambridge is an ideal partner for us,” said Tim Callahan, President and CEO of Callahan Capital Partners. “Ivanhoé Cambridge is a well-established, long-term investor with a solid international base that is looking to leverage its strong position and expertise and that is intent on growing its U.S. presence in the office sector. Furthermore, through our new relationship, our respective interests are perfectly aligned.”
According to the agreement, all investments proposed will be subject to Ivanhoé Cambridge’s investment approval process. A new property acquired in Manhattan in mid-November, 1411 Broadway, will be the first investment to be managed by Callahan Capital Partners.
About Callahan Capital Partners
Callahan Capital Partners is a real estate investment firm focused on acquiring high-quality office properties throughout the United States and leveraging substantial experience and expertise in asset management to enhance value.