Asset Manager News & Perspectives

November 9, 2017

Former American Realty Capital Properties CFO Sentenced for Accounting Fraud

On November 8, 2017, Brian Block, former CFO of American Realty Capital Partners, received a sentence of 18 months in federal prison for overstating the company’s financial results.

November 9, 2017

Pathway Energy Infrastructure Fund Restructures as Interval Fund, Expands Investment Focus

Pathway Energy Infrastructure Fund, Inc. announced on November 7, 2017 that it has converted to a continuously offered, closed-end interval fun structure and expanded its investment focus.

November 9, 2017

Phillips Edison Grocery Center REIT I Increases Estimated Value per Share by 8%, Plans Name Change

The board of directors of Phillips Edison Grocery Center REIT I, Inc. have determined the estimated value per share of its common stock to be $11.00, as of October 5, 2017, representing an 8% increase from the previous estimated value per share of $10.20, as of March 31, 2017.

November 8, 2017

Commercial Property Prices: Froth, or Fundamentals?

Commercial property prices have risen steadily since the beginning of the recovery from the Great Financial Crisis (GFC). Prices through September were nearly 25 percent above the level at the end of 2007, according to the value-weighted CoStar Commercial Repeat Sales Index, while prices of multifamily properties were nearly 50 percent above their end-2007 value.

November 8, 2017

What Will Be the Impact of Retail Landlords Taking a Black Friday Holiday?

Over Thanksgiving weekend, Black Friday remains the most popular day for shopping.

November 8, 2017

InvenTrust Properties Receives Notice of Unsolicited Mini-Tender Offer

InvenTrust Properties, Inc. (“InvenTrust” or the “Company”) has received notice on October 30 that Liquidity Partners Trust I, a Delaware statutory trust, filed a Tender Offer Statement on Schedule TO with the Securities and Exchange Commission (“SEC”) regarding an unsolicited mini-tender offer (the “Offer”) to purchase shares of common stock of the Company.

November 7, 2017

FINRA Disciplines Three Realty Capital Ex-Salesmen in Proxy Fraud

According to an article by Bruce Kelly in InvestmentNews on November 7, the Financial Industry Regulatory Authority Inc. (“FINRA”) on Monday, November 6, barred two former Realty Capital Securities salesmen involved in the 2015 proxy fraud that led to the eventual closing of that firm, and last week suspended a third former Realty Capital salesman…

November 7, 2017

RENTCafe study shows seniors increasingly embracing renting

Millennials get most of the press when it comes to the nation’s multifamily market, with young adults choosing to rent longer in such markets as Indianapolis, Chicago, Minneapolis, Lexington and Detroit. But new research from RENTCafe suggests that another generational group is fueling the multifamily market, too, Baby Boomers.

November 7, 2017

US Listed REITs Trading at 4.6% Median Discount to NAVs as of October 31

SNL analyzes publicly traded U.S. equity real estate investment trusts with market caps greater than $200 million and compares their stock prices to the analysts’ consensus estimates of net asset value per share (NAV).