Centerbridge Eyes Stake In Merritt Properties

Centerbridge Partners is in advanced talks to acquire a minority stake in Merritt Properties, in a deal expected to value the commercial real estate company at about $3bn including debt. The proposed transaction would give Centerbridge roughly one-third of the business, with the stake being acquired from Almanac Realty Investors, the real estate investment arm of Neuberger Berman.

Merritt manages more than 21 million square feet of industrial and office properties across Maryland, Virginia, North Carolina and Florida. Founded in the late 1960s by the Merritt family, the company is expected to remain majority family-owned if the deal proceeds, preserving continuity while bringing in fresh institutional capital.

The talks come during a busier period for commercial property transactions, with global real estate dealmaking reaching $99bn between January and late May 2026, up 44% from the same period a year earlier. The potential Merritt investment sits within that wider recovery, as buyers return selectively to assets with clearer income profiles and stronger long-term demand drivers.

Merritt’s industrial exposure is central to the deal’s appeal. The sector has benefited from supply-chain investment, reshoring and demand for logistics space, helping it perform more strongly than parts of the broader commercial property market despite high interest rates. For Centerbridge, which manages about $47bn in assets and invests across infrastructure and real estate, the transaction would deepen exposure to a segment still supported by structural occupier demand.

The deal is not yet final, and other bidders could still emerge. Even so, the negotiations show how private capital is returning to commercial real estate through targeted stakes rather than only full takeovers. In a market still marked by financing caution, minority ownership in established platforms offers a way to gain scale without assuming every risk of direct control.