AltsTech News
AltsTech News
SEC Working to Modernize and Streamline Real Estate-Related Disclosures
Sonia Barros, assistant director, division of corporation finance, at the Securities and Exchange Commission (SEC), participated in a video interview at Nareit’s REITwise: 2018 Law, Accounting & Finance Conference in Hollywood, Florida.
CNL Healthcare Properties II ‘s $10.06 NAV On Track with CNL Healthcare Properties’ NAVs
When the board of directors of CNL Healthcare Properties II announced the estimated NAV per share for all share classes as of December 31, 2017, at $10.06, it followed a pattern in NAV appreciation observed earlier with CNL Healthcare Properties, Inc.
NTR Sales at $326.2 Million in March, Down 8% From February
Sales by nontraded REITs reported to Blue Vault for March totaled $326.25 million, down 8% from the February total of $354.5 million.
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.
Griffin-American Healthcare REIT Determines NAV, Revises Offering Price
Griffin-American Healthcare REIT IV, Inc. has announced an estimated per share net asset value (NAV) of $9.65 for shares of the company’s Class T and Class I common stock.
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.
Business Development Corporation of America (BDCA) to Participate in Acquisition of $981.2 Million Portfolio
Through its affiliated relationships, which include Benefit Street Partners (BSP) and BDCA Adviser, Business Development Corporation of America (BDCA) has announced that it has entered into an asset purchase agreement with Triangle Capital Corporation.
Third-PartyTender Offer for InvenTrust Common Stock and Increased Distribution Rate
Liquidity Partners Trust I has offered to pay $3.1 million to shareholders of InvenTrust Properties Corp. to purchase up to 2 million shares of the company’s common stock at $1.55 per share.
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.
IPA Announces Change of Name to “Institute for Portfolio Alternatives”
The Investment Program Association announced March 9 that the organization is changing its name to the Institute for Portfolio Alternatives (the new IPA).
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.
Strategic Storage Trust IV Acquires 460-Unit Self Storage Facility in Riverside, California
Strategic Storage Trust IV, Inc. (SST IV), a public non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC (SmartStop), announced on April 6 its acquisition of a 460-unit self storage facility located at 3167 Van Buren Blvd. in Riverside, California.
Which were the five largest interval funds in terms of net assets as of their most recent financial reports?
Answer: Stone Ridge Trust II, Stone Ridge Trust V, ACAP Strategic Fund, Griffin Institutional Access Real Estate Fund, and Versus Capital Multi-Manager Real Estate Income Fund
Griffin Capital Essential Asset REIT II Amends Share Redemption Program
In an 8K filing on April 2, Griffin Capital Essential Asset REIT II announced changes to its IPO Share Redemption Program (SRP) to allow stockholders to redeem their shares at 100% of net asset value of the applicable share class one year from purchase date.
JLL Income Property Trust Announces Reductions in Fees; Increase to Dividend Yield
JLL Income Property Trust has announced the reduction of fees on two of its publicly available share classes.
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.
Steadfast Income REIT Lowers NAV per Share and Distribution Rate
In a letter to shareholders on March 29, Steadfast Income REIT announced an updated net asset value per share for the company’s common stock of $10.84 per share.
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.

