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Focus
Our singular focus is to find the best candidate for the opportunity within segments of the financial marketplace that we understand.
Our broad network enables us to execute highly customized, confidential, and comprehensive placements.
Focus
Our singular focus is to find the best candidate for the opportunity within segments of the financial marketplace that we understand.
Our broad network enables us to execute highly customized, confidential, and comprehensive placements.
Secondaries Liquidity



Where are they now? Former Nontraded REITs Recover Post-Listing Price Declines
"Where are they now?" - Formerly nontraded REITs American Healthcare REIT (AHR) and Sila Realty Trust (SILA) have made meaningful price...
Oct 25, 20241 min read

American Healthcare REIT: Comrit Decreases Tender Price
Comrit has lowered their bid for American Healthcare REIT (NYSE: AHR) from $13.15 to $5.23 according to an 8-K filed by the newly listed...
Mar 18, 20241 min read

InvestmentNews: REIT sales tank, BDCs roll at start of 2024: Report
Non-traded REIT sales see a significant decline in early 2024, prompting investors to turn to business development companies for higher...
Feb 29, 20241 min read

KBS III Going Concern
In light of KBS III's "Going Concern" disclosure it's important to remember that financial markets are forward-looking and net asset...
Dec 29, 20231 min read

Pacific Oak Strategic Opportunity REIT Value Dives
Pacific Oak Strategic Opportunity REIT ($PCOK) has reported a 23.5% drop in NAV. Year to date transactions show the write-down was...
Dec 13, 20231 min read

WSJ Article feat. John Cox: What's a Real Estate Fund Worth?
Article by Jonathan Weil, WSJ “A lot of our business is based on explaining why NAV is not an indication of fair market value.” In...
Dec 6, 20231 min read

Sila Makes No Recommendation on Recent Tender Offer
Sila Realty Trust, Inc. makes "no recommendation" on whether the Sila's shareholders should accept a recent third-party tender offer,...
Nov 22, 20231 min read

Highlands REIT Tender Offer
Highlands REIT ($HHDS) has made an offer to repurchase up to $20 million worth of their shares in a recent tender offer. What does $20...
Oct 25, 20231 min read

BREIT: Third Party Tender Offer
Mackenzie Capital has launched a third party tender offer for Blackstone Real Estate Income Trust #BREIT. BREIT investors who are...
Oct 25, 20231 min read

Nareit Gives Gaming Sector the Special Treatment
Gaming gets its own Nareit sector! $VICI and $GLPI, which were removed from the Specialty sector in early 2023, now comprise the two...
Oct 17, 20231 min read

American Healthcare REIT: Third Party Tender Offers
The most recent third party offer for American Healthcare REIT is significantly lower than secondary market prices and well above the...
Oct 4, 20231 min read

Looking Back: Secondary Market Pricing TTM
Over the past twelve months, non-traded asset prices have generally traded down - with AR Global's Healthcare Trust falling nearly 47% in...
Oct 2, 20231 min read


Blackstone: Redemption Program Utilization
Shareholder liquidity utilization continues to ebb and flow between Blackstone's mega funds BREIT and BCRED. While BCRED met 100% of...
Aug 8, 20231 min read

KKR Real Estate Select Trust: Oversubscriptions Persist
The KKR Real Estate Select Trust (KREST) remains in the oversubscribed club for the second consecutive quarter. KREST is a tender offer...
Apr 19, 20231 min read

SmartStop Self Storage REIT: Secondary Market Analysis
SmartStop Self Storage is urging shareholders to reject a recent third party tender offer. Investors who are looking for liquidity would...
Mar 21, 20231 min read

Starwood Joins BREIT Liquidity Woes
Starwood Capital Group and Blackstone continue to generate headlines for their increasingly illiquid products. However, non-traded...
Dec 5, 20221 min read


Blackstone Real Estate Income Trust (BREIT) Breaches Redemption Limit
BREIT’s repurchase program has reportedly become oversubscribed for the first time, confirming that the laws of supply and demand do, in...
Dec 1, 20221 min read

Multiple Active Tender Offers for Griffin Realty Trust Highlight Ongoing Value Gap in Nontraded Alts
Griffin Realty Trust, a well-known nontraded real estate investment trust (REIT), currently has two active and one recently completed...
Sep 13, 20221 min read

Third Party Tender Offers Destroy Shareholder Value
There are currently six active third party tender offers for retail-focused #BDCs and #REITs. The predatory third party tender pricing...
Aug 25, 20221 min read

Secondary Markets Provide Superior Pricing
Secondary markets and directly negotiated transactions tend to provide superior pricing for non-traded REIT shareholders who are seeking...
Jul 18, 20221 min read

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