AltsTech News
AltsTech News
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.
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.

