Bond Street REIT has announced that affiliates of Conversant Capital LLC have committed up to $300 million of growth equity to its private REIT.
The investment will be used to expand Bond Street’s 39-asset portfolio and capitalize on the strong fundamentals exhibited by well-located, necessity-oriented convenience retail. Limited supply, strong tenant demand and low capital intensity are hallmarks of the asset class. These attributes, when combined with Bond Street’s proven operating model and sourcing capabilities, create a compelling opportunity for long-term value creation.
With proceeds from Conversant’s investment, Bond Street anticipates acquiring more than $150 million of assets annually and has identified $60 million of new acquisitions expected to close in the coming months. Assets held in separately capitalized Bond Street-advised entities will roll into the REIT.
“We are delighted to announce Conversant’s commitment and are excited for our
