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Green Street Advisors to Acquire Four Commercial Real Estate and Financial Publications
Monday 10 February 2020

10 February 2020 - US-based commercial real estate industry research, advisory and analytics provider Green Street Advisors has entered into an agreement to acquire four publications that serve the commercial real estate and financial industries, Real Estate Alert, Commercial Mortgage Alert, Hedge Fund Alert, and Asset-Backed Alert from Harrison Scott Publications, the company said.

Financial terms were not disclosed. The publications were in play in large part because of former executive Nestor Charriez, who was convicted in January of embezzling around USD 48m, for his personal benefit, from Harrison Scott Publications, which owned the titles.

Green Street said the publications will complement its existing research, advisory, and analytics capabilities and expand the firm's value proposition by offering independent news as a fourth medium that delivers market intelligence.

This transaction represents a significant step for Green Street as it executes on a new growth strategy, building upon its 30+ years of market leadership to extend and further enhance its offerings for its customers.

Green Street recently appointed a new chief executive officer, Jeffry Stuek, Jr., in January 2020. Welsh, Carson, Anderson and Stowe acquired Green Street in August 2019 and will invest additional capital to fund this acquisition.

The publications will maintain their editorial independence, the company said. Real Estate Alert, Commercial Mortgage Alert, Hedge Fund Alert, and Asset-Backed Alert will continue to be published in Hoboken, New Jersey, extending Green Street's presence in the New York area.

Real Estate Alert provides subscribers with weekly intelligence on the oncoming risks and opportunities in the US commercial property market. 

Commercial Mortgage Alert delivers exclusive news and data on behind-the-scenes activities in real estate finance and securitization. Hedge Fund Alert helps readers understand developments in the fund-management space.

And, Asset-Backed Alert highlights news in the securitisation business, including the worldwide markets for asset-backed securities, mortgage-backed securities and collateralized loan obligations.

The transaction is expected to close in the next 30 days.

Founded in 1985, Green Street Advisors is an independent research and advisory firm concentrating on the commercial real estate industry in North America and Europe with offices in Newport Beach, Dallas, London, and soon New York City.

WCAS is a US private equity firm focused on two target industries: technology and healthcare.

Kirkland and Ellis LLP served as the legal advisor to Green Street. CG Petsky Prunier LLC served as the financial advisor and Levy Holm Pellegrino and Drath LLP served as the legal advisor to HSP.
Details
Date Published: 10/02/2020
Target: Real Estate Alert, Commercial Mortgage Alert, Hedge Fund Alert, and Asset-Backed Alert
Country: USA
Sector: Media
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor: Harrison Scott Publications
Buyer: Green Street Advisors
Buyer Advisor: Kirkland and Ellis
Comment:
Terms of the deal were not disclosed

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