Investment banking group Crédit des Alpes has acquired an interest in Parinvest Group, a Miami-based real estate broker and asset manager.
The deal allows Switzerland-based Crédit des Alpes, an international investment banking group, a chance to invest in the U.S. real estate market, adding strategic assets to its portfolio.
The move is a vote of confidence for parts of the U.S. marketplace.
"Certain areas of the U.S. real estate market are, and will continue to be, safe and sound investments, providing significant prospects for capital gains," said Crédit des Alpes chairman Fabrizio Cerina. "We have seen a strong increase in interest from our Latin American client base and we expect this trend to continue."
The acquisition will result in a new company, Parinvest Asset Management, a subsidiary of Crédit des Alpes Parinvest Corp.
Crédit des Alpes led the sale and leaseback of The Saxony Hotel in Miami Beach back in 2007. It has been operating in North American real estate for more than 20 years.