Press Release

Dermody Properties and Almanac Realty Investors Announce Strategic Minority Investment

Transaction marks the third minority GP stakes investment for the Almanac strategy and will support Dermody’s continued growth

June 24, 2024, New York, NY — Dermody Properties—a diversified private equity investment management company focused exclusively on the national logistics real estate sector— and Almanac Realty Investors (“Almanac”), the private real estate investment arm of Neuberger Berman, announced an agreement for Almanac to acquire a passive, minority ownership stake in Dermody Properties. The strategic investment should provide additional resources to Dermody Properties while having no impact on the day-to-day management, operations or business decision-making process.

Dermody Properties seeks to leverage the capital partnership for continued investment in the growth of its logistics strategies, as well as a focus on attracting, retaining, and growing the firm’s talent.

“We believe that Almanac will be an excellent strategic partner for Dermody Properties,” said Michael C. Dermody, Executive Chairman at Dermody Properties. “Almanac’s permanent capital, deep real estate experience, and access to a range of global resources through Neuberger Berman will support the continued growth of Dermody and enhance our business platform for years to come.”

“We are thrilled to announce a third partnership in our minority stakes strategy with one of the highest quality managers in the logistics space today,” said Andrew Silberstein, Managing Director & Head of Private Markets at Almanac. “Dermody Properties has a long track record of developing, acquiring, and managing high quality logistics properties, and we are excited to partner with this team on the next phase of their growth.”

Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel to Almanac. Kirkland & Ellis LLP served as legal counsel to Dermody Properties. Berkshire Global Advisors advised Dermody Properties on the transaction.

About Dermody Properties

Dermody Properties is a privately-owned real estate investment, development and management firm that specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody Properties has invested more than $10 billion of total capital across all platforms nationwide, having acquired and developed approximately 110 million square feet of logistics and industrial facilities. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas, Indianapolis and New Jersey. For more information, visit

About Almanac Realty Investors

Almanac Realty Investors, a business unit of Neuberger Berman, is a leading provider of growth capital to private and public real estate companies. Originally founded in 1981 under the name Rothschild Realty, Almanac Realty Investors partners with established owner-operators in all sectors of the real estate market to accelerate company growth and has committed more than $8.3 billion in capital to 56 real estate companies, both private and public, throughout North America. For more information, visit

About Neuberger Berman

Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $474 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last ten years (firms with more than 1,000 employees). Visit for more information. Data as of March 31, 2024.

Media Contacts:

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