AltsTech News
AltsTech News
What bank rate is the basis for most variable rate debt utilized by nontraded REITs and what will happen in 2021 to change the reference rate for variable rate debt and interest rate swaps?
Answer: Currently, most variable rate debt utilized by nontraded REITs have interest rates based upon LIBOR, the London Interbank Offered Rate. In April 2018, the New York Federal Reserve began publishing the Secured Overnight Financing Rate (SOFR), a rate that regulators hope will eventually be adopted to back U.S. dollar-based derivatives and loans. The head of Britain’s financial markets regulator said last year that a LIBOR substitute must be in place for banks to use by the end of 2021 and that LIBOR must because there are not enough transactions underpinning the rates.
Lightstone Value Real Estate Investment Trust Reactivates DRIP
On October 16, 2018, Lightstone Value Real Estate Investment Trust, Inc. mailed a prospectus related to its amended and restated distribution reinvestment program…
NorthStar Healthcare Income to Restrict Share Repurchases
On October 12, 2018, the board of directors of NorthStar Healthcare Income, Inc. approved an amended and restated…
Owl Rock’s Public BDC Succeeds by Giving Investors Lower Fees and Quality Credit Portfolio (Part 2 of 3)
During a time when BDCs have been on a downward trend, Owl Rock Capital Partners has …
Strong Real Estate Fundraising Pushes Unspent Funds to a Record $294 Billion
Strong Real Estate Fundraising Pushes Unspent Funds to a Record $294 Billion October 12, 2018 |...
Inland Residential Properties to Pay Last Regular Distribution
Inland Residential Properties Trust, Inc. is pursuing a liquidity event after the Company’s board of directors determined…
Blackstone Group Closes on Purchase of Former NTR Gramercy Property Trust
On October 10, 2018, affiliates of Blackstone Group LP’s Blackstone Real Estate Partners VIII LP completed…
Comrit Investments Offers $13.08 for Benefit Street Partners Realty Trust Shares
A limited partnership with a general partner of a limited liability company organized under the laws of the State of Israel has tendered…
KBS Strategic Opportunity REIT II Declares Cash and Stock Distributions
On October 10, 2018, KBS Strategic Opportunity REIT II’s board of directors declared…
Diversification as One of Real Estate’s Enduring Qualities
From time to time, it’s good to revisit the basics of why commercial real estate (CRE) makes sense for many investors…
September NTR Sales Recede Toward June Levels, Down 15% From August
After nontraded REIT sales reached a high for the year at $420.1 million in August, sales…
Which two nontraded REIT sponsors ranked second and third in total capital raised by two programs each in both August and September 2018, after Blackstone REIT’s continuous offering?
Answer: Black Creek Group’s Black Creek Industrial REIT IV and Black Creek Diversified Property Fund gave the sponsor its second place ranking among nontraded REIT sponsors. Griffin Capital’s Griffin Capital Essential Asset REIT II and Griffin-American Healthcare REIT IV gave the sponsor its third place ranking in both August and September among nontraded REIT sponsors.
Hines Global REIT Plans to Sell Campus for $335 Million
On October 2, 2018, Hines Global REIT, Inc., entered into a contract with…
Cole Real Estate Income Strategy (Daily NAV) Modifies Share Classes and Fees
On October 9, 2018, Cole Real Estate Income Strategy (Daily NAV), Inc., publicly disclosed in a prospectus supplement to the prospectus for the Company’s public offering that it intends to…
The Parking REIT Files for Offering and Listing on NASDAQ Global Market
The Parking REIT, Inc., (the Company) a nontraded REIT that invests primarily in parking facilities, has applied to list its common stock…
Black Creek Industrial REIT IV Updates Portfolio Status, Transaction Price
As of October 2, 2018, Black Creek Industrial REIT IV Inc. owned and managed a real estate portfolio that included properties…
Griffin-American Healthcare REIT III Announces Updated Estimated NAV
On October 4, 2018. Griffin-American Healthcare REIT III issued a letter to shareholders announcing an updated estimated per share net asset value of the…
US REITs Trade at 6% Discount to NAV at End of Q3 2018
In its monthly update of the Data Dispatch that analyzes publicly traded U.S. equity real estate investment trusts with market capitalization of at least $200 million…
Strategic Storage Trust IV Acquires Land for Development in Ontario, Canada
Strategic Storage Trust IV, Inc. (SST IV), a public non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC (SmartStop), announced…
Griffin-American Healthcare REIT IV Acquires Skilled Nursing Facilities Portfolio for $88.2 Million
American Healthcare Investors and Griffin Capital Company, LLC, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., announced today…
