AltsTech News

Bluerock Capital Markets’ Equity Sales Surge in January to $120 Million

Bluerock Capital Markets (BCM) announced today that after reporting back-to-back months of record equity capital raise by its sponsored investment programs…

NexPoint Challenges Independence of Medley and Sierra Boards

Following the announcement that Medley Capital Corporation (“MCC”) and Sierra Income Corporation (“Sierra”) have declined the alternative merger proposal…

Which nontraded REIT has grocery-centered retail properties that have anchor tenants Publix (61) and Kroger (39) among the tenants in its estimated 340-property portfolio?

Answer: Phillips Edison & Company’s tenants include Publix, Kroger, UPS Store, Subway, Starbucks, and Great Clips.

Hines Global REIT Sells San Francisco Office Building for $342.5 Million

On February 4, 2019, a subsidiary of Hines Global REIT, Inc. sold 550 Terry Francois to a wholly-owned subsidiary of The Gap, Inc. 550 Terry Francois is a…

Sierra Income & Medley Capital Decline NexPoint’s Proposal

One day after NexPoint Advisors, L.P. (“NexPoint”) encouraged shareholders to vote against the proposed merger between Medley Capital Corporation (“MCC”)…

Northstar REIT II, Behringer Opp REIT I Total Returns Atrocious

Following the recently released Nontraded REIT Full-Cycle Return summary from last week, which disclosed the total returns of the first 56 full-liquidity REIT…

The Latest Full-Cycle Events for Nontraded REITs

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Inland Residential Properties Trust Announces $16.06 Estimated NAV

The REIT’s Business Manager estimated that its real estate sales values, less transaction costs, payments due to related parties, plus cash and other assets net of liabilities, and less debt, totaled $35.1 million.

Hines Global Income Trust Acquires German Industrial Portfolio

Hines Global Income Trust, Inc. acquired Maintal Logistics from Gutperle + Harder GmbH and Gutperle and Harder GdbR on December 31, 2018. The net

InvenTrust Properties Corp. Acquires Commons at University Place in Durham, NC

InvenTrust Properties Corp. (“InvenTrust”, “IVT”, or the “Company”) today announced the acquisition of Commons at University Place (“University Place”), a …

KBS Strategic Opportunity REIT II Board Advises Rejection of $2.75 Tender Offer

In a January 31, 2019, letter to stockholders, Chairman Peter McMillan of KBS Strategic Opportunity REIT II, Inc. advised common shareholders to reject…

NexPoint Advisors Encourages Shareholders to Vote Against Merger Proposal

On February 5, 2019, NexPoint Advisors, L.P. (“NexPoint”) issued a press release reiterating its opposition of Medley Management Inc’s (“MDLY”) role in the currently proposed merger between Medley Capital Corporation (“MCC”) and…

NexPoint Advisors Proposes Merger with Sierra Income Corporation and Medley Capital Corporation

On August 17, 2018, Blue Vault covered the potential acquisition of Medley Capital Corporation (“MCC”) and Medley Management Inc. (“Medley”) by Sierra Income Corporation (“Sierra”). The companies issued joint press releases on…

Recent Changes to Nontraded REIT Estimated NAVs per Share

Blue Vault Partners compares the most recent NAVs, estimated by nontraded REITs, to the previous NAVs reported by the REITs.

Starwood to Raise $500 Million for Opportunity Zone Investments

Starwood Capital Group is looking to raise $500 million for investments in low-income areas deemed “opportunity zones” under a new U.S. tax policy, according to the January 30 announcement…

Which Business Development Company (“BDC”) had investments in the common stock of at least 25 different nontraded REITs as of September 30, 2018, with a total cost basis of over $22 million?

Answer: MacKenzie Realty Capital, Inc., a nontraded BDC, owned common shares in at least 25 different nontraded REITs as of September 30, 2018. The cost basis of the 19 million shares was $22.6 million as of September 30, 2018, with an estimated fair value of $25.2 million. The BDC’s largest investment among the nontraded REITs was in KBS REIT II, Inc., in which it held 1.6 million shares with a fair value of $6.56 million at that date, and a cost basis of $3.65 per share. The BDC also owned 14.7 million shares of Highlands REIT, Inc. with a cost basis of $0.197 per share.