AltsTech News
AltsTech News
Which first-time nontraded REIT sponsors have filed public offerings in the last six months?
Answer: FS Investments; Nuveen, LLC; Oaktree Capital Management, L.P.; and Starwood Capital Group Holdings, L.P.
American Finance Trust Offers Self Tender in Defensive Move
On April 30, 2018, American Finance Trust commenced a self-tender offer for up to 1 million shares in response to other potential bidders, including most recently MacKenzie Capital Management.
REFILE-REITs outperform broader market in rising rate environment
Rising interest rates this year are helping property-linked stocks outperform the broader U.S. equity market as investors bet real estate investment trusts (REITs) will provide a better return as the Federal Reserve tightens monetary policy further.
Cadaret, Grant to be sold to private-equity backed Atria Wealth Solutions
The 75-year-old co-founder of IBD firm Cadaret, Grant & Co. has agreed to sell his company to Atria Wealth Solutions, a wealth management services holding company launched last summer by two former Morgan Stanley executives with the help of a private equity firm.
Hines Global REIT Plans to Liquidate
On April 23, 2018, the board of directors of Hines Global REIT, Inc. (“the Company”) unanimously approved a plan of liquidation.
Strategic Storage Trust II, Inc. Announces $10.65 NAV
Strategic Storage Trust II, Inc. (“SST II”) announced on April 20 that its board of directors has approved an estimated per share net asset value (“NAV”) of its Class A common stock and Class T common stock of $10.65, calculated as of December 31, 2017.
Strategic Storage Growth Trust Announces $11.58 NAV
On April 19, 2018, the board of directors of SSGT (the “Board”) approved an estimated value per share for Class A shares and Class T shares of $11.58 based on the estimated value of assets less the estimated value of liabilities, or net asset value, divided by the number of shares outstanding on an adjusted fully diluted basis, calculated as of December 31, 2017.
Which nontraded REIT program reached a peak of $11.7 billion in total assets in Q2 2010, the largest nontraded REIT in terms of total assets?
Answer: Inland American Real Estate Trust, Inc., now known as InvenTrust, Inc.
Strategic Storage Trust IV Subsidiary to Purchase Seven Facilities in Texas
On April 18, 2018, a subsidiary of Strategic Storage Trust IV, Inc., entered into a purchase and sale agreement for the acquisition of a portfolio of seven self storage facilities in Texas.
KBS Strategic Opportunity REIT Acquires City Tower in Orange, California
KBS Strategic Opportunity REIT has filed additional details regarding its acquisition of City Tower on March 6, 2018.
KBS Legacy Partners Apartment REIT Files Articles of Dissolution
KBS Legacy Partners Apartment REIT has filed articles of dissolution effective April 18, 2018.
Preliminary Reactions to SEC’s “Best Interest” Standard Proposal
As expected, reactions to the SEC’s proposed standard of conduct or fiduciary rules pertaining to brokers’ relationships with clients met with mixed reviews.
SEC Proposes to Enhance Protections and Preserve Choice for Retail Investors in Their Relationships With Investment Professionals
The Securities and Exchange Commission today voted to propose a package of rulemakings and interpretations designed to enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers while preserving access to a variety of types of advice relationships and investment products.
Sales by Interval Funds, Nontraded Closed-End Funds, and Private Placements for March
Blue Vault reports sales for Interval Funds and nontraded Closed-End Funds reported by 10 fund sponsors in March. March sales of these funds that were reported to Blue Vault totaled $184.2 million, up 7.6% from the $171.2 million reported in February for the same sample of programs.
Steadfast Apartment REIT Discloses Higher NAV
In a filing on April 13, Steadfast Apartment REIT announced an estimated value per share of $15.18 as of December 31, 2017. This amount is another in a series of steadily increasing share valuations since the REIT ceased offering shares on March 24, 2016. The previous valuation on December 31, 2016, was $14.85 per share.
Carter Validus Mission Critical REIT II, Inc. Acquires $51 Million Data Center Portfolio
In an April 17 press release, Carter Validus Mission Critical REIT II, Inc. (CV Mission Critical REIT II), a public, non-traded real estate investment trust announced that on March 14 it had acquired the Rancho Cordova Data Center Portfolio for a contract purchase price of approximately $51 million, which excludes acquisition fees and costs.
Griffin-American Healthcare REIT IV, Inc. Acquires Medical Office Building in Wisconsin
American Healthcare Investors and Griffin Capital Company, LLC, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., announced on April 13 that the REIT has acquired Sauk Prairie Medical Office Building, which consists of a Class A, on-campus medical office building located in the Wisconsin village of Prairie du Sac, near Madison, for $19.5 million.
FIRST PERSON: Michael Seton of Carter Validus
Blue Vault recently had the opportunity to talk with Michael Seton, Chief Executive Officer (CEO) of Carter Validus, a private commercial real estate investment company, and President and CEO of Carter Validus Mission Critical REIT (CVMC REIT I) and Carter Validus Mission Critical REIT II (CVMC REIT II), two public non-traded REITs sponsored by Carter Validus that invest exclusively in data center and health care properties.
Griffin Capital Essential Asset REIT Acquires McKesson Scottsdale Campus
Griffin Capital Company, LLC announced today, on behalf of Griffin Capital Essential Asset REIT, Inc. (the “REIT”), the acquisition of the McKesson Scottsdale Campus consisting of two, two-story, Class A office buildings, at a purchase price of $67.0 million from Ryan Companies US, Inc.
In Age of Amazon, You Could Invest in Tech—or in Warehouses
Forget your fancy office towers. The future lies in warehouses.
