Asset Manager News & Perspectives

January 6, 2016

Steadfast Apartment REIT Buys Stoneridge Farms in Nashville for $47.8 Million

Steadfast Apartment REIT, a publicly registered non-traded real estate investment trust, purchased Stoneridge Farms, a 336-unit apartment community in Nashville’s Smyrna submarket for $47.75 million—bringing its total acquisition activity to $1.2 billion. The REIT now owns 617 units in the state of Tennessee, for a total of 9,858 units in 11 states. Constructed in 2005,…

January 6, 2016

RCAP Evaluating Docupace’sRole Amid Bankruptcy Filing

Docupace's paperless management system is widely used by Cetera, other firms Jan 5, 2016 @ 1:43 pm By Alessandra Malito While soon-to-be bankrupt RCS Capital Corp. considers what to do with its majority stake in Docupace, experts say the paperless processing system used by thousands of advisers is unlikely to go away anytime soon. RCAP…

January 4, 2016

Griffin Capital Essential Asset REIT Acquires Three-Property Portfolio

December 28, 2015 16:04 ET | Source: Griffin Capital EL SEGUNDO, Calif., Dec. 28, 2015 (GLOBE NEWSWIRE) -- Griffin Capital Corporation (“Griffin Capital”) announced today, on behalf of Griffin Capital Essential Asset REIT, Inc. (the “REIT”), the acquisition of a three-property portfolio from Global Income Trust, Inc. (the “Seller”), a public, non-traded REIT sponsored by…

January 4, 2016

Upscale Mexican Eatery Plans Summer Opening

Dec 29, 2015, 12:57pm EST Emon Reiser Reporter South Florida Business Journal Besito Mexican, an upscale chain with high ratings from The New York Times toZagat, is slated to open in Boca Raton this summer. Hugh Connerty, CEO of the authentic Mexican eatery, told the South Florida Business Journal construction will begin shortly on the restaurant's…

January 4, 2016

NorthStar Healthcare Completes $1.8 Billion Capital Raise

December 29, 2015 by Amy Baxter Coming off a year chock full of blockbuster acquisitions, one of the nation’s largest alternative investment sponsors and asset management firms has reached its capital raising goal for its senior housing real estate investment trust (REIT). NorthStar Healthcare Income, a non-traded publicly registered REIT that primarily invests in senior…

January 4, 2016

MVP REIT II, Inc. Breaks Escrow

December 30, 2015 18:28 ET | Source: MVP REIT II MVP REIT II has met its minimum offering of $2 million in subscriptions SAN DIEGO, Dec. 30, 2015 (GLOBE NEWSWIRE) -- MVP REIT II, Inc. (“MVP REIT II”) announced today that the real estate investment trust fulfilled its minimum offering of $2 million in subscriptions…

January 4, 2016

RREEF Property Trust Expands Property Portfolio into the Washington DC Metropolitan Area with Purchase of Class-A Office Property

RREEF Property Trust | December 23, 2015 9:33 AM NEW YORK--(BUSINESS WIRE)-- RREEF Property Trust, Inc. (ZRPTAX, ZRPTBX) today announced the acquisition of Loudoun Gateway I, an institutional-quality Class-A, 102,015 square-foot office building in Sterling, VA, for $21.95 million. This is RREEF Property Trust’s first acquisition in the Washington, DC metropolitan area and increases the fund’s…

January 4, 2016

RCAP Files for Bankruptcy; Cetera to Emerge as Independent Company

Shareholders will be wiped out, while bond holders will own broker-dealer Jan 4, 2016 @ 3:47 pm By Bruce Kelly Reeling under hundreds of millions of dollars in debt, RCS Capital Corp. said on Monday it planned to file for Chapter 11 bankruptcy protection by the end of the month as part of a broad…

December 19, 2015

Steadfast Apartment REIT Buys Apartment Community in Metro Atlanta for $51.4M

POSTED ON DECEMBER 16, 2015 BY JOHN NELSON IN GEORGIA, MULTIFAMILY, SOUTHEAST | ReBusiness Online SMYRNA, GA. — Steadfast Apartment REIT has acquired Park Valley Apartments, a 496-unit, Class B multifamily community in the Atlanta suburb of Smyrna, for $51.4 million. Built in 1987, the apartment property features studio, one- and two-bedroom residences that range from…