AltsTech News

AltsTech News

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.

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.

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.