Clarion buys majority stake in Gramercy Europe

US property investment management firm Clarion Partners has acquired a majority stake in logistics investor Gramercy Europe. The terms of the deal were not disclosed. Gramercy Europe will become an operating business of Clarion and be rebranded as Clarion Gramercy. Current chief executive Alistair Calvert will remain in his role and lead the business’ offices in London, Berlin and Barcelona. In 2006, Calvert established ThreadGreen Partners, which was purchased by Gramercy Property Trust in December 2014 and subsequently rebranded as Gramercy Europe. The deal marks Clarion’s expansion into the European market. It currently manages a 706-property portfolio, located in 42