Merritt Properties Secures $750 Million Investment from Centerbridge

The capital injection is earmarked for expanding Merritt’s shallow bay industrial portfolio across its current Mid-Atlantic and Southeast strongholds, alongside a push into new markets. While Almanac is exiting its primary ownership position, it will remain involved by participating in the new investment round, maintaining a partnership that dates back to 1997.

Alongside the financial restructuring, the company is reshaping its executive suite. Robb Merritt, who has been with the firm for nearly four decades, is stepping up from his role as President to become Chief Executive Officer. Scott Dorsey, the outgoing CEO, will move into the position of Executive Chairman, while Bobby Lanigan, previously responsible for acquisitions, takes over as President. The company currently manages over 21 million square feet of commercial space, and this new backing aims to accelerate its development and acquisition pipeline across Maryland, Virginia, North Carolina, and Florida.