Comrit Investments 1 LP, Tel Aviv-based investment fund, has completed its unsolicited tender offer for shares of Benefit Street Partners Realty Trust, a publicly registered non-traded real estate investment trust.
The REIT’s most recent net asset value per share is $17.88, as of September 30, 2020, and Comrit purchased 78,664 shares at $10.02 each.
Comrit launched its tender offer in late October and sought to purchase up to 2.5 million shares of the REIT’s common stock. Combined with its other tender offers, Comrit now owns approximately 296,499 shares of Benefit Street Partners Realty Trust, or approximately 0.7 percent of the total outstanding.
Benefit Street Partners Realty Trust primarily originates, acquires and manages a portfolio of commercial real estate debt investments secured by properties located within and outside the United States.
The company commenced operations in May 2013, and as of the third quarter of 2020, had approximately $3.1 billion of assets under management. Formerly known as Realty Finance Trust and managed by AR Global, Benefit Street took over as the company’s new advisor at the end of September 2016. The advisor is a wholly-owned subsidiary of Franklin Resources Inc.