New €1b firm to target sheds, alternatives, and more in Europe

Arvi Luoma, formerly of WP Carey, and Gordon DuGan, formerly of Gramercy Property Trust, have joined forces to launch a new pan-European venture focusing on single-tenant commercial real estate properties in a range of asset classes.

Dubbed Blackbrook, the firm has launched with more than €1 bn in capital commitments from Connecticut-based Eldridge Industries. The founders of Blackbrook, DuGan and Luoma, will take on the roles of chairman and CEO, respectively.

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