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.
Founded in the late 1960s, Merritt Properties manages more than 21 million square feet of industrial and commercial real estate assets across Maryland, Virginia, North Carolina, and Florida. The portfolio includes warehouses, distribution centres, and office buildings. The Merritt family is expected to retain majority ownership following the transaction.
The potential investment comes amid renewed momentum across global real estate M&A activity. According to LSEG data, approximately $99bn of real estate deals were completed globally between the start of 2026 and late May, representing a 44 per cent increase year-on-year.
Industrial real estate has remained one of the stronger-performing areas of the commercial property market, supported by supply-chain investment trends and the continued reshoring of manufacturing operations. However, elevated interest rates continue to weigh on broader sector valuations.
