Asset Manager News & Perspectives

October 31, 2017

Phillips Edison Grocery Center REIT I Arranges $195 Million in 14 Secured Mortgage Loans

On October 23, 2017, 14 subsidiaries of Phillips Edison Grocery Center Operating Partnership I, L.P. (“PECO I OP”), and The Guardian Life Insurance Company of America, entered into 14 separate ten-year secured mortgage loans totaling $195 million.

October 30, 2017

American Realty Capital New York City REIT Announces Lower NAV

On October 25, 2017, the independent directors of American Realty Capital New York City REIT, Inc. approved an Estimated Per Share NAV equal to $20.26 based on an estimated fair value of the Company’s assets less the estimated fair value of the Company’s liabilities, divided by 31,029,865 shares of common stock outstanding on a fully…

October 30, 2017

Broadstone Real Estate Files for $1 Billion Interval Fund Offering

Broadstone Real Estate Files for $1 Billion Interval Fund Offering October 27, 2017 | James Sprow | Blue Vault Broadstone Real Estate registered a new interval fund on October 13, with a goal of a $1 billion capital raise. According to the draft registration statement, Broadstone Real Estate Access Fund intends to invest in…

October 30, 2017

It’s 6 Months Running For Price Declines

It’s 6 Months Running For Price Declines October 27, 2017 | Paul Bubny | GlobeSt.com [caption id="" align="alignnone" width="616"] A gap between buyer and seller expectations on pricing “only exacerbates the slump,” says Muoio.[/caption] IRVINE, CA—Commercial property pricing slipped by 0.2% in October, marking the sixth month in a row of declining values, Ten-X said…

October 27, 2017

Blackstone May Double Assets to $800 Billion in Five Years

Blackstone May Double Assets to $800 Billion in Five Years October 25, 2017 | Erik Schatzker, Dinesh Nair, and Matthew Martin | Bloomberg Blackstone Group LP’s Steve Schwarzman said his firm may double assets under management to $800 billion over the next five years as it expands into new investing areas. “We have internal targets, plans, aspirations to…

October 26, 2017

Hines Global REIT II Acquires 395-Bed Student Housing Property in Reading, UK

Hines Global REIT II Acquires 395-Bed Student Housing Property in Reading, UK October 26, 2017 | James Sprow | Blue Vault On October 11, 2017, Hines Global REIT II, Inc. acquired from a W. P. Carey REIT affiliate, CPA 18, Pan-European Holding Cooperatief U.A. and Crown Students LLP, all of the share capital of WPC…

October 26, 2017

Carey Watermark Investors Sells Its 57% Interest in Westin Atlanta Venture

Carey Watermark Investors Sells Its 57% Interest in Westin Atlanta Venture October 26, 2017 | James Sprow | Blue Vault On October 19, 2017, the CWI AM Atlanta Perimeter Hotel, LLC venture, or the Westin Atlanta Venture, in which Carey Watermark Investors Incorporated, or CWI, owned a 57% interest, was sold to an unaffiliated third-party…

October 26, 2017

KBS Strategic Opportunity REIT to Sell 11 Properties for $804 Million

KBS Strategic Opportunity REIT to Sell 11 Properties for $804 Million October 25, 2017 | James Sprow | Blue Vault On October 24, 2017, KBS Strategic Opportunity REIT, Inc. entered into an agreement to sell 11 of its properties to various subsidiaries of Keppel-KBS US REIT, a newly formed Singapore real estate investment trust (the…

October 26, 2017

Hospitality Investors Trust Board Counters MacKenzie Tender Offer

Hospitality Investors Trust Inc.'s board is calling on the company's shareholders to reject MacKenzie Realty Capital Inc.'s unsolicited mini-tender offer for the company's common shares and countering the offer by MacKenzie with a tender offer for up to 1,000,000 shares at a higher price.