Asset Manager News & Perspectives

July 25, 2023

PetSmart’s Owner Sells Minority Stake to Apollo

BC Partners has agreed to sell a minority stake of its PetSmart holdings to funds managed by affiliates of Apollo...

July 25, 2023

Why Blackstone Was Able To Turn Simply Self Storage Into an Extra $1 Billion in Under Three Years

Blackstone Real Estate Income Trust's deal to sell Simply Self Storage to Public Storage for $2.2 billion signals more than the seller collecting $1 billion over what it paid less than three years ago. It also indicates optimism about long-term self-storage demand in certain parts of the country didn't ease with the pandemic...

July 24, 2023

New REITs Proliferate in Anticipation of Further Decline in Property Values

Four major investment firms have taken steps this month to set up nontraded real estate investment trusts so they can swoop in when property values finally adjust to a new economic reality of significantly reduced prices. The filings with the Securities and Exchange Commission by Sculptor Capital Management, ExchangeRight, EQT Exeter and Invesco Real Estate...

July 19, 2023

UK takeover wave rolls on with £470 million bid for fund manager Gresham House

Shareholders in alternative asset manager Gresham House (GHE) will be popping the champagne corks today after the firm revealed it had agreed a buyout by private investment group Searchlight at £11.05 per share, a 63% premium to its last price.

July 19, 2023

BREIT forges ahead on comeback trail: Blackstone fund posted strongest return in 10 months after limiting withdrawals

Blackstone’s real estate investment trust continued its climb out from under a mass of redemption requests that landed in recent months, with June posting its strongest returns in nearly a year.

July 19, 2023

Newly Formed BGO Industrial REIT Acquires Interest In 9.4M SF Portfolio

BGO Industrial Real Estate Income Trust, a nontraded REIT formed by investment management firm BentallGreenOak, acquired an interest in a 9.4M SF industrial “seed portfolio” of 29 buildings in the Midwest.

July 19, 2023

ExchangeRight Increases Market Share in First Half of 2023

ExchangeRight, one of the nation’s leading providers of diversified real estate DST and REIT investments, has announced that it has increased its share of the 1031 DST market in the first half of 2023 compared to the 2022 year, representing more than 33% growth, according to a recent report by Mountain Dell Consulting. The report…

July 19, 2023

Why NYX Capital Sold Its $310M Self-storage Portfolio: President and CEO Yashar Fatehi Cites Economy, Market Conditions for Timing of Sale

After making Canada’s largest self-storage portfolio sale thus far in 2023, the CEO of NYX Capital Corp. says his company is not completely exiting the sector. NYX, a Toronto-based private equity real estate investment firm with over $1 billion assets under management, sold its $310-million self-storage portfolio last month. The income-producing properties were sold to Ladera Ranch, Calif.-based SmartStop…

July 19, 2023

Shopoff Realty Investments and Urban Pacific Create Joint Venture Partnership to Develop Urban Town Homes

Shopoff Realty Investments ("Shopoff"), and The Urban Pacific Group of Companies have created a joint venture partnership to further advance Urban Pacific's "Urban Town House" (UTH) build-for-rent, multi-generational housing concept.