AltsTech News

AltsTech News

Which nontraded REIT program recently announced that its sponsor’s three founding principals will invest 100% of their net after-tax compensation in 2018 in shares of the REIT?

Answer: Jeff Hanson, Danny Prosky, and Mathieu Streiff, along with the company’s executive vice presidents, entered into irrevocable stock purchase plans applicable to Griffin-American Healthcare REIT IV, Inc., a publicly registered, non-traded real estate investment trust co-sponsored by the firm and Griffin Capital Company, LLC. 

Under the terms of the plans, Hanson, Prosky and Streiff agreed to invest 100 percent of the net after-tax cash compensation (base salary and annual bonus) they receive as executives of American Healthcare Investors directly into shares of Class I common stock of Griffin-American Healthcare REIT IV.

FS Investments Closes Transaction with EIG

FS Investments (FS) and EIG Global Energy Partners (EIG) have announced the closing of their previously announced transaction to manage FS Energy and Power Fund (FSEP), said to be the largest energy-focused BDC in the marketplace with $4.3 billion in assets under management.

Two Carter Validus REITs Have New CEO

Carter Validus Mission Critical REIT, Inc. (CVREIT) and Carter Validus Mission Critical REIT II, Inc. (CVREIT II) each announced on April 10 that Michael A. Seton is now Chief Executive Officer of both REITs effective immediately following John E. Carter’s resignation.

FS Investments and KKR Creating Largest BDC Platform

FS Investments and KKR today announced the closing of their previously announced transaction to create the market’s largest business development company (BDC) platform, with $18 billion in combined assets under management.

Greenstreet Reports CRE Valuations Trending Down

Commercial real estate investors can expect that property prices will trend downward in the near future, according to Green Street Advisors, a real estate research firm headquartered in Newport Beach, California.

Healthcare Trust Lowers NAV to $20.25 from $21.45

On March 29, 2018, the independent directors of Healthcare Trust, Inc. who comprise a majority of the board, with Edward M. Weil, Jr. abstaining, unanimously approved an Estimated Per-Share NAV as of December 31, 2017 equal to $20.25 based on the estimated fair value of the Company’s assets less the estimated fair value of the Company’s liabilities, divided by 91,768,014 shares of common stock outstanding on a fully diluted basis as of December 31, 2017.

Cole Credit Property Trust Announces Lower NAV Per Share

On March 30, 2018, the Board of Directors of Cole Credit Property Trust V, Inc. (“CCPT V” or the “Company”), a publicly registered non-listed real estate investment trust (“REIT”) focused on investing in high-quality, income-producing necessity retail properties net leased to creditworthy tenants under long-term leases, announced an estimated per share net asset value (“NAV”) of the Company’s Class A and Class T common stock of $22.18 as of December 31, 2017.

Cole Office & Industrial REIT (CCIT II) Announces Increased NAV per Share

The Board of Directors of Cole Office & Industrial REIT (CCIT II), Inc., a publicly registered non-listed real estate investment trust (“REIT”) focused on owning and operating high-quality, income-producing single-tenant office and industrial properties net leased to creditworthy tenants under long-term leases, on March 30 announced an estimated per share net asset value (“NAV”) of the Company’s Class A and Class T common stock of $10.58 as of December 31, 2017.