Proprium Capital Partners, a real estate firm managing over $4 billion in assets, is exploring strategic options, including the possibility of a sale, according to sources familiar with the matter.
The Stamford, Connecticut-based firm is working with an adviser to approach potential buyers. However, no final decisions have been made, and Proprium could ultimately choose not to move forward with any transaction. A representative from the firm declined to comment.
Proprium, an employee-owned company with offices in London, Sydney, and Hong Kong, was founded by former Morgan Stanley Real Estate Special Situations executives, including co-managing partners Timothy Morris and Philipp Westermann.
The firm has been actively expanding its portfolio, having sold a 35% stake in European hotel operator Motel One Group for €1.25 billion ($1.32 billion) in April. In July, it also agreed to invest in an Italian student-housing project and recently made an offer to acquire Australian developer AVJennings Ltd.
Proprium’s exploration of strategic options comes amid a period of consolidation in the real estate sector, particularly among alternative asset managers. Larger, diversified firms have been expanding their offerings to become comprehensive providers for institutional investors such as pension funds and sovereign wealth funds. Recently, Ares Management Corp. and Blue Owl Capital Inc. made significant acquisitions in the space.
