QuadReal Property Group has acquired 46% of global listed real estate investment firm Ranger Global Real Estate Advisors, according to a news release issued Tuesday.
QuadReal's purchase follows a 2020 investment of $1 billion in assets with New York-based Ranger Global. QuadReal acquired the stake in two tranches, with the second tranche on Oct. 27, said Sarah Norman, QuadReal spokeswoman in an email.
"I've known and admired the current senior leadership of Ranger Global and QuadReal for many years and am delighted to see this collaboration take place," Richard Saltzman, Ranger Global's senior adviser and board chairman, said in the release.
Until 2018, Mr. Saltzman was CEO and president of real estate money manager Colony Capital.
QuadReal has C$61.2 billion ($48 billion) in assets under management. Ranger Global has $2.1 billion in assets under management as of Sept. 30.