The sale-leaseback deal, completed through a JV with Fetner Properties, follows the fund's conversion from a tender offer to an interval structure, while still being taxed as a REIT.
Flagship Healthcare Trust has purchased a Class A medical outpatient building and ambulatory surgery center, anchored by physician-led ophthalmology practice Graystone Eye.
The interval fund joins a lineup of vehicles managed by Neuberger, StepStone, and Nuveen across private credit, multi-asset, real estate, and venture strategies.
The Evanston Multi-Alpha Fund's shareholders also approved its future conversion from a tender offer fund to a daily-NAV interval fund, expected in the first half of 2027.
The firm also provided updates on its private equity evergreen fund and non-traded BDC, as well as plans to launch new products targeting the wealth segment.
Funds managed by Apollo have invested more than $1 billion in a joint venture with the trust, which will use the proceeds to repay a significant portion of its credit facility.
The disposition unlocks approximately $9 million of capital for the trust and realizes the promote earned on the transaction.
The four-property deal adds more than 2,000 beds to its portfolio of student housing assets.
The all-stock deal between Strategic Storage Trust VI & Strategic Storage Growth Trust III will create a company with ~$1.2 billion in total assets.
The investment, made through a joint venture with Sterling Organization, adds a 99%-occupied shopping center in Austin to the REIT's portfolio.
