ING – Sell, Sell, Sell

ING Group completes the $100 million deal of the sale of its US-based private market real estate investment management business to the senior management. This decision, in part, is an attempt for the newly renamed Clarion Partners to return “to our partnership roots” during a “promising” point in the real estate market. Clarion Partners, who’ve chosen to revert back to their original name before ING took over, holds more than $22 billion in real estate assets with private and institutional investors.

The positive real estate market outlook has sparked this recent business decision, as well as a number of other commercial real estate ventures throughout the country, and it seems to be a sign of a recovering economy. The firm will stay in its New York location.

ING also announced that they would sell ING REIM Europe, ING REIM Asia, CRES and others to the CB Richard Ellis Group. This comes in light of ING’s attempt to honor the European Union’s conditions to ensure state aid during the financial crisis.

All information gathered from CoStar