HQ Capital, Harald Quandt’s alternative investments firm, is a part of a joint venture that acquired CNL Commercial Real Estate (CCRE) from CNL Financial Group.
CNL Financial Group, an alternative investment management company, agreed to a management-led buyout of CCRE by the real estate company’s partners and its new JV investment partner, HQ Capital Real Estate.
CCRE was launched in 2007 under the leadership of 12 real estate veterans who previously led Trammell Crow Company’s North Florida operations.
Paul Ellis is to serve as chief executive at CCRE, while Pryse Elam will become president of the development and investment platform.
Ken Loeber will become president of real estate services.
All three have led CCRE previously.
Ellis: “HQ’s investment will provide our platform expanded access to capital and allow us to grow our services business and continue building a company that is needed in our space.”
CCRE, which operates in southern US markets, will continue as a separate company, with a rebrand due later this year.
HQ Capital will invest in the new company’s development and value-add pipeline.