CHARLOTTE, N.C. AND CHEVY CHASE, MD. — Barings, an investment manager based in Charlotte, has entered into a definitive agreement to acquire Artemis Real Estate Partners, a commercial real estate investment firm based in the Washington, D.C., suburb of Chevy Chase.
The transaction is expected to close in the first quarter of 2025. Financial terms were not disclosed.
This acquisition will strengthen Barings’ position in the U.S. commercial real estate market and accelerate the company’s long-term growth by combining the firms’ complementary investment capabilities and expertise, according to company officials. Executives from Barings, as well as parent company MassMutual, also say that the move will enhance Barings’ real estate equity business.
Deborah Harmon, co-founder and co-CEO of Artemis, believes that the merger will create “a more powerful platform for our investors” while simultaneously “preserving our culture while creating new opportunities for our team.”
“We are deeply grateful to our investors for the past 15 years and look forward to continuing our partnership as a force multiplier for performance and purpose,” Harmona adds.
Dechert LLP served as legal counsel to Barings for the transaction. Berkshire Global Advisors served as financial advisor to Artemis, with Paul Hastings LLP acting as the firm’s legal counsel.
Barings’ global real estate platform has more than $50 billion in assets under management as of year-end 2024, including the firm’s more than $28 billion global real estate debt. The company operates out of 17 offices across nine countries, and its total assets under management globally exceeds $421 billion.
Artemis is a diversified real estate firm with investment expertise across the risk spectrum and real estate product types, including multifamily, industrial, office, retail, hospitality, self-storage, seniors housing and medical office. Since its founding in 2009, Artemis, which specializes in joint venture equity partnerships, has acquired over $17 billion of assets in more than 300 investments and had $11 billion in assets under management as of year-end 2024.
— John Nelson