HOUSTON — Columbia Threadneedle Investments has reached an agreement for Columbia Management Investment Advisers, LLC to acquire Lionstone Partners, Ltd., a Houston-based national real estate investment firm operating as Lionstone Investments. The deal brings Lionstone into the Columbia Threadneedle platform while preserving the firm’s local presence and operational leadership.
Lionstone has played an active role in several high-profile Houston projects. Notable collaborations include multiple developments with Midway Cos., such as the GreenStreet mixed-use center in downtown Houston, the Jones on Main redevelopment on the 700 block of Main Street, and the Buffalo Heights project along Washington Avenue. These projects underscore Lionstone’s experience in urban redevelopment and mixed-use investment strategies.
Managing approximately $6 billion in assets, Lionstone will remain headquartered in Houston. The company’s existing executive team will stay in place and continue to operate under the Lionstone brand. Leadership continuity aims to protect the firm’s local knowledge, client relationships, and investment approach while leveraging Columbia Threadneedle’s global resources.
Jane Page, chief executive officer of Lionstone, commented on the announcement: “Columbia Threadneedle’s leadership, experience, and culture are complementary to Lionstone’s, making this a strong strategic partnership. Our foundational investment philosophy and approach will remain the same.” Her statement emphasizes that Lionstone’s core principles and investment discipline will be maintained following the acquisition.
The transaction is expected to close later this year, subject to customary regulatory approvals and closing conditions.
Lionstone was founded in 2001 by Tom Bacon, Glenn Lowenstein, and Dan Dubrowski. Since its founding, the firm has focused on acquiring, developing, and repositioning commercial real estate assets across the United States, building a portfolio and track record that attracted interest from large institutional investors.
Columbia Threadneedle Investments serves as the global asset management arm of Ameriprise Financial, Inc., based in Minneapolis. The group provides investment management across a range of asset classes and strategies, and the acquisition of Lionstone strengthens its real estate capabilities and U.S. presence.