AltsTech News
AltsTech News
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.
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.
