Nontraded REIT signals liquidity on the way

Phillips Edison-ARC Shopping Center REIT Inc. has hired advisers to evaluate alternatives.
JUL 28, 2014
Another nontraded real estate investment trust has signaled it is getting in line for a liquidity event. Phillips Edison-ARC Shopping Center REIT Inc., with $1.8 billion in assets, said on Thursday it had tapped Bank of America Merrill Lynch and RCS Capital as advisers for the REIT's “evaluation of possible strategic alternatives.” RCS Capital is the the investment bank and capital markets group of Realty Capital Securities. (Don't miss: Liquidity events heating up REIT market this summer) Launched in 2010, the REIT is sponsored by both Phillips Edison & Co., an investor in shopping centers, and AR Capital, one of the real estate companies controlled by American Realty Capital chairman and chief executive Nicholas Schorsch. The REIT is currently valued at $10 per share. When a nontraded REIT hires investment banks to explore strategic alternatives, it is a signal that the REIT is considering a merger or listing on a stock exchange. After a slow start in the beginning of the year, which saw two listings of nontraded REITs in April, June and July have seen a flurry of mergers and listing activity by nontraded REITs and related companies.

Latest News

The power of cultivating personal connections
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

A variety of succession options
A variety of succession options

Whichever path you go down, act now while you're still in control.

'I’ll never recommend bitcoin,' advisor insists
'I’ll never recommend bitcoin,' advisor insists

Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.

LPL raises target for advisors’ bonuses for first time in a decade
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

What do older Americans have to say about long-term care?
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound