REIT Conversion & Real Estate Monetization Alternatives
Insight for navigating the complex entry into the REIT market.
Green Street works with management teams and boards of directors to review the opportunities and challenges associated with a C-Corporation-to-REIT conversion. Companies often own and control properties in non-traditional sectors, such as cell towers, correctional facilities, document storage, billboards, farmland, gaming, and other property subsectors that are unfamiliar to REIT investors. Presenting an investment thesis that will resonate with REIT investors is an important part of what we do.
Developing a REIT Conversion Strategy that attracts REIT Investors
Green Street’s approach to advising REIT conversion clients begins with a thorough assessment of the conversion value proposition based on the company’s operational and financial attributes relative to those of its potential REIT peer group. These multi-phase engagements address general REIT market positioning, value maximization, strategic positioning, and investor communications to maximize the likelihood of success.
Our team will work with management to evaluate the following variables of REIT conversions:
- A thorough analysis of possible structures for those deciding whether to convert.
- A roadmap addressing the operational complexities of the REIT conversion process.
- An overview of the REIT market and its relative valuation to other markets.
- An in-depth company and portfolio analysis, including benchmarking with sector peers and traditional publicly-traded REITs.
- NAV estimate and warranted pricing expectations.
- Investor positioning and disclosure, including supplemental reporting.
- Index inclusion considerations.
- Preparation for management presentations.
Unlocking embedded real estate value
Green Street works with publicly traded operating companies that own and control significant portfolios of real estate – as well as the shareholders of those companies – in exploring strategies for maximizing shareholder value through real estate monetization alternatives. Companies in the restaurant, retailing, gaming, telecom, utility, and energy businesses are prime candidates to consider real estate monetization strategies such as sale-leasebacks or strategic joint ventures. Green Street is uniquely positioned to provide an independent assessment of the value of the real estate and offer guidance on the different transaction alternatives to unlock the embedded value of the real estate.
Green Street works with management teams and boards of directors to review the opportunities and challenges associated with a C-Corporation-to-REIT conversion. Companies often own and control properties in non-traditional sectors, such as cell towers, correctional facilities, document storage, billboards, farmland, gaming, and other property subsectors that are unfamiliar to REIT investors. Presenting an investment thesis that will resonate with REIT investors is an important part of what we do.
Green Street’s approach to advising REIT conversion clients begins with a thorough assessment of the conversion value proposition based on the company’s operational and financial attributes relative to those of its potential REIT peer group. These multi-phase engagements address general REIT market positioning, value maximization, strategic positioning, and investor communications to maximize the likelihood of success.
Our team will work with management to evaluate the following variables of REIT conversions:
- A thorough analysis of possible structures for those deciding whether to convert.
- A roadmap addressing the operational complexities of the REIT conversion process.
- An overview of the REIT market and its relative valuation to other markets.
- An in-depth company and portfolio analysis, including benchmarking with sector peers and traditional publicly-traded REITs.
- NAV estimate and warranted pricing expectations.
- Investor positioning and disclosure, including supplemental reporting.
- Index inclusion considerations.
- Preparation for management presentations.
Unlocking embedded real estate value
Green Street works with publicly traded operating companies that own and control significant portfolios of real estate – as well as the shareholders of those companies – in exploring strategies for maximizing shareholder value through real estate monetization alternatives. Companies in the restaurant, retailing, gaming, telecom, utility, and energy businesses are prime candidates to consider real estate monetization strategies such as sale-leasebacks or strategic joint ventures. Green Street is uniquely positioned to provide an independent assessment of the value of the real estate and offer guidance on the different transaction alternatives to unlock the embedded value of the real estate.
Green Street works with publicly traded operating companies that own and control significant portfolios of real estate – as well as the shareholders of those companies – in exploring strategies for maximizing shareholder value through real estate monetization alternatives. Companies in the restaurant, retailing, gaming, telecom, utility, and energy businesses are prime candidates to consider real estate monetization strategies such as sale-leasebacks or strategic joint ventures. Green Street is uniquely positioned to provide an independent assessment of the value of the real estate and offer guidance on the different transaction alternatives to unlock the embedded value of the real estate.
