Asset Manager News
SmartStop Self Storage Sponsors ‘Flight for Hope’ Round-the-World Journey August 3, 2023

SmartStop Self Storage Sponsors ‘Flight for Hope’ Round-the-World Journey

SmartStop Self Storage REIT Inc., a self-managed real estate investment trust, is sponsoring the plane for Flight for Hope, a round-the-world journey by Callum Wallace to raise awareness and funds for the nonprofit Home Suite Hope and other charities. An advisor at real estate firm Engel & Völkers Oakville, Wallace is the fourth Canadian to…
Blackstone’s EQ Office sells Costa Mesa office campus at 10% loss August 1, 2023

Blackstone’s EQ Office sells Costa Mesa office campus at 10% loss

Blackstone has sold an office campus in Costa Mesa for $91.5 million — about 10 percent less than what it assembled it for between 2013 and 2015. MGR Real Estate, run by Michael Rademaker, bought the 553,000-square-foot complex at 3070 and 3100 Bristol Street, according to Orange County property records. The sale came to about $165…
ExchangeRight Fully Subscribes $98 Million Net-Leased Portfolio Designed for Recession Resilience July 27, 2023

ExchangeRight Fully Subscribes $98 Million Net-Leased Portfolio Designed for Recession Resilience

ExchangeRight, one of the nation’s leading providers of diversified real estate DST and REIT investments, has announced that it has fully subscribed its Net-Leased Portfolio 59 DST, a $98,345,000 offering totaling 261,644 square feet and net-leased to grocery, pharmacy, medical, and other necessity-based national tenants operating essential businesses. The portfolio has been structured to provide…
PetSmart’s Owner Sells Minority Stake to Apollo July 26, 2023

PetSmart’s Owner Sells Minority Stake to Apollo

PetSmart’s majority owner, BC Partners, has entered a definitive agreement to sell a minority stake in PetSmart to funds managed by affiliates of Apollo, an asset management business. BC Partners, alongside co-investors including GIC and the PetSmart management team, will remain the majority shareholder of PetSmart and retain control of the Board.
New REITs Proliferate in Anticipation of Further Decline in Property Values 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...

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