Carmel Real Estate Fund Acquired by DL Holdings | Real Estate Services M&A Deal

DL Holdings has completed the acquisition of Carmel Real Estate Fund, a real estate services other business in California, for $40 million. Carmel Real Estate Fund invests in U.S. real estate assets, supporting income-focused portfolios for investors in the CA market. DL Holdings acquisitions expand real estate services M&A exposure through a real estate services other acquisition strategy tied to Carmel Real Estate Fund acquisition. The add on acquisition is structured as a private equity acquisition with an announced deal size in the $25 million to $50 million range, and DL Holdings plans to contribute additional HK$40 million in RWA to shareholders as part of the capital allocation.