Merritt Properties, LLC Funding, Investors & Competitors

Merritt Properties, LLC has raised $1.1B across 2 funding rounds, most recently a $750M undisclosed-stage round in June 2026.

Last Merritt Properties, LLC funding round

$750M

Undisclosed stage · Jun 2026

Cumulative funding Merritt Properties, LLC raised

$1.1B

across 2 funding rounds

Key investors in Merritt Properties, LLC

  • Almanac Realty Investors
  • Centerbridge Partners

Merritt Properties, LLC Overview

About Merritt Properties, LLC

Merritt Properties is a Hunt Valley, Maryland-based commercial real estate firm managing office, industrial, and retail properties totaling over 10 million square feet in the Mid-Atlantic region. The company handles leasing, maintenance, and development for its portfolio anchored by tenants in technology and logistics.


Founded

1967

HQ

United StatesBaltimore, MD

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Merritt Properties, LLC Funding History

Merritt Properties, LLC has raised a total of $1.1B across 2 funding rounds.

Merritt Properties, LLC's first fundraising round was a $400M undisclosed-stage round in January 2018. The most recent completed round was a $750M undisclosed-stage round in June 2026.

Merritt Properties, LLC funding rounds

Merritt Properties, LLC funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2026Undisclosed stageCenterbridge Partners (lead); Almanac Realty Investors$750MCenterbridge Partners, L.P. led a $750 million strategic investment in Merritt Properties, acquiring the ownership interest previously held by Almanac Realty Investors (the private real estate arm of Neuberger Berman), which had partnered with Merritt since 1997. The deal values Merritt Properties at approximately $3 billion including debt, with the Merritt family retaining majority control while Centerbridge obtains roughly one-third of the business. The investment includes dedicated growth capital to expand Merritt’s shallow-bay industrial portfolio across existing Mid-Atlantic and Southeast markets and into select new markets. This capital will enable portfolio expansion, pursuit of new opportunities, and continued high-level customer service. The Merritt family owns over 21 million square feet of commercial real estate and $3 billion in real estate investments. The partnership between Almanac and Merritt, initiated with a $75 million investment in 1997 and followed by a $400 million investment in 2018, helped Merritt evolve into one of the largest privately held commercial real estate companies in the Mid-Atlantic and Southeast. Jefferies Private Capital Advisory served as financial advisor to Merritt, CBRE National Partners as real estate advisor, and legal counsel included Miles & Stockbridge P.C., Kramon & Graham P.A. for Merritt, and Simpson Thacher & Bartlett LLP for Centerbridge.
Jan 2018Undisclosed stageAlmanac Realty Investors$400MMerritt Properties, LLC is a Baltimore- and Ashburn, Virginia-based real estate company focused on industrial, office, data centers, and retail properties primarily in the Baltimore-Washington, DC corridor. In January 2018, Almanac Realty Investors committed up to $400 million in growth capital to Merritt Properties from its Almanac Realty Securities VII fund, which had closed on $1.4 billion in 2015. This followed prior investments by Almanac totaling $150 million since 1997, including an initial $75 million commitment. The new capital was intended to expand Merritt's portfolio by 20-30 percent through acquisitions, development, and redevelopment of primarily industrial properties. At the time, Merritt owned approximately 16 million square feet of real estate with a 94 percent occupancy rate. The investment structure is typical for Almanac, often as convertible debt or preferred equity, targeting net annual returns of 12 percent or more and net investment multiples of 1.5x to 1.75x. Governance involves a board with representatives from Merritt's management and Almanac, emphasizing shareholder value protection, dividend generation, strategy, capital allocation, and resource optimization. The commitment is listed under 2017/1997 originations in Almanac's portfolio, aligning with the early 2018 announcement.

Who has invested in Merritt Properties, LLC?

2 investors have backed Merritt Properties, LLC across its funding rounds, including Almanac Realty Investors and Centerbridge Partners.

Lead investors include Centerbridge Partners.


Merritt Properties, LLC Investors

Investors in Merritt Properties, LLC by funding rounds participated
InvestorHQRoundsRoleFirst check

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Merritt Properties, LLC Competitors

Merritt Properties, LLC competitors include listed companies like CBRE, Sumitomo Realty & Development, KE Holdings and Swire Properties, and private ones like CloudKitchens and Ziroom.

Public and private companies comparable to Merritt Properties, LLC
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CBREUnited StatesUnited StatesPublicly listed$41B$2.5B$40B1.1x
Sumitomo Realty & DevelopmentJapanJapanPublicly listed$6.8B$2.6B$19B6.5x
KE HoldingsChinaChinaPublicly listed$14B$735M$18B1.0x
Swire PropertiesHong KongHong KongPublicly listed$2B$152M$18B10.1x
CloudKitchensUnited StatesLos Angeles, CAPrivate$1.1B-$15B13.6x
ZiroomChinaBeijingPrivate--$6.6B-

Merritt Properties, LLC Public Comps

Merritt Properties, LLC is still privately-owned, but its public comps include CBRE, Sumitomo Realty & Development, KE Holdings, Swire Properties, Vonovia, JLL, Swiss Prime Site, CoStar Group, Plaza and PSP Swiss Property.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CBRE$41B$2.5B1.2x1.1x19.8x13.6x
Sumitomo Realty & Development$6.8B$2.6B6.5x6.5x16.9x17.8x
KE Holdings$14B$735M0.9x1.0x18.2x10.8x
Swire Properties$2B$152M11.4x10.1x152.3x19.4x
Vonovia$6.1B$4.4B11.4x17.5x15.8x21.6x
JLL$26B$1.3B0.7x0.7x13.7x11.0x
Swiss Prime Site$670M$498M29.3x31.9x39.4x32.6x
CoStar Group$3.2B$183M3.6x3.3x64.1x16.7x

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Common questions about Merritt Properties, LLC

When was Merritt Properties, LLC founded?Merritt Properties, LLC was founded in 1967.
Where is Merritt Properties, LLC headquartered?Merritt Properties, LLC is headquartered in Baltimore, MD, United States.
Is Merritt Properties, LLC publicly listed?No, Merritt Properties, LLC is a private, VC-backed company.
How much funding has Merritt Properties, LLC raised?Merritt Properties, LLC has raised $1.1B across 2 funding rounds.
What was Merritt Properties, LLC's last funding round?Merritt Properties, LLC's last funding round was a $750M undisclosed-stage round in June 2026, led by Centerbridge Partners.
Who are Merritt Properties, LLC's investors?Merritt Properties, LLC's investors include Almanac Realty Investors and Centerbridge Partners.
Which companies are comparable to Merritt Properties, LLC?Companies comparable to Merritt Properties, LLC include CBRE, Sumitomo Realty & Development, KE Holdings, Swire Properties, CloudKitchens and Ziroom.

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