Centerbridge Partners is in advanced talks to acquire a minority stake in commercial real estate company Merritt Properties, in a deal that would value the business at approximately $3bn, according to a report by the Financial Times.
The stake sale is reportedly being led by Almanac Realty Investors, the real estate investment arm of Neuberger Berman. Centerbridge is understood to have moved ahead of several competing bidders for a stake representing roughly one-third of the business.
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