UNLOCK THE POWER OF THE VAULT

Everest REIT Investors Offers $7.00 Per Share for CNL Growth Properties

August 24, 2016

 

 


Everest REIT Investors Offers $7.00 Per Share for CNL Growth Properties

Aug 19 2016 | by DI Wire

Everest REIT Investors, a private real estate investment firm, offered to purchase up to 1.1 million shares of CNL Growth Properties common stock for $7.00 each. The unsolicited tender offer expires on September 26th.

Everest and its affiliates currently own 38,819 shares of the CNL Growth common stock. If all shares are tendered, the firm will pay $7.7 million and own 5.01 percent of the outstanding shares. As reported by The DI Wire in January 2016, Everest previously offered shareholders $5.70 per share – which is 22 percent less than the current offer. The REIT has an estimated net asset value of $8.65 per share, as of Dec. 31, 2015.

Earlier this month, CNL Growth Properties shareholders approved a plan to liquidate and dissolve the company, with net proceeds from liquidation estimated between $8.41 and $9.39 per share.

Article Located Here

Print Friendly, PDF & Email
Go Back
Second Annual Blue Vault Broker Dealer Educational Summit 2016
Broker Dealer Educational Summit 2016
April 14, 2016

The Blue Vault Summit could not have been more perfectly timed. This gathering of the Broker Dealer and Sponsor communities provided insightful and open discussion from several vantage points. These conversations are paramount, especially in a time of significant regulatory change.