Unique global perspective
Providing insight into real estate values
Crossing international borders adds complexity to real estate transactions, investor messaging, and disclosure requirements. With dedicated advisory professionals in North America and Europe serving clients spanning five continents, Green Street’s Advisory Services group is uniquely positioned to translate real estate best practices across global markets.
Our Global Real Estate Strategies & Services Include:
- Incorporating U.S. REIT best practices in emerging markets
- Cross-border valuation
- Tailoring investor communications to a multinational investor base
- Pre-IPO advisory for private real estate companies
- REIT conversions / spin-offs for publicly traded companies
Cross-Border Real Estate Case Study
The Client: NorthStar Realty Finance
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Property Sector
Diversified
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Deal Size
$500 million
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European Portfolio Size
$2 Billion
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The Situation
The client, a New York based diversified REIT, had recently completed a series of acquisitions in Europe, creating a ~$2 billion diversified pan-European portfolio. The client did not believe the European assets were being appropriately valued by the market alongside the larger U.S. portfolio, so the decision was made to spin-off the European assets into a stand-alone REIT. Green Street was brought in to assist the client in communicating the transaction rationale in a manner that would appeal to U.S. and European investors.
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Our Solution
Green Street assembled a project team consisting of advisory professionals in the U.S. and Europe to combine knowledge of the existing U.S. investor base with expertise on the European property markets where the assets were located. The Green Street team worked with the client to produce an investor presentation and press release to announce the transaction to the market. The investor presentation deck leveraged proprietary data from Green Street’s U.S. and European research teams. Green Street’s unique cross-border expertise assisted the Client in making its case that a spin-off of the European sub-portfolio would enhance shareholder value.
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The Results
Helped investors in Europe and the U.S. understand the portfolio to facilitate the calculation of an NAV estimate and warranted value for the company.
