iStar Intends to Explore Market Interest for Its Net Lease Assets
iStar Inc. (NYSE: STAR) has announced plans to explore market interest for potential sales of its net lease assets, engaging Eastdil Secured as an advisor.
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Rhea-AI Summary
iStar Inc. (NYSE: STAR) has announced plans to explore market interest for potential sales of its net lease assets, engaging Eastdil Secured as an advisor. The company's net lease portfolio encompasses 19 million square feet of office, entertainment, and industrial properties nationwide. There is no guarantee on the sale of these assets or their terms. iStar aims to enhance the ground lease sector and has executed over $40 billion in transactions in the last 20 years, focusing on modernizing ground leases within the $7 trillion institutional commercial real estate market.
Positive
- Engagement of Eastdil Secured as an advisor may enhance marketability of net lease assets.
- 19 million square feet of institutional quality properties represent significant value potential.
- iStar's long history of more than $40 billion in transactions indicates strong market experience.
Negative
- No assurance on the sale of net lease assets could create uncertainty among investors.
Details
News Market Reaction – STAR
The recorded move for STAR in the trading session of this news was +0.58%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, July 6, 2021 /PRNewswire/ -- iStar Inc. (NYSE: STAR) announced today that it intends to explore market interest for possible sales of its net lease assets. The Company has engaged Eastdil Secured as an advisor for this process. There can be no assurance as to whether iStar will sell some, all or none of its net lease assets, or as to the timing and terms of any sales. iStar's net lease portfolio includes assets that it owns directly and through joint ventures. The aggregate portfolio comprises 19 million square feet of institutional quality office, entertainment, and industrial properties located throughout the country.
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iStar Inc. (NYSE: STAR) is focused on reinventing the ground lease sector, unlocking value for real estate owners throughout the country by providing modern, more efficient ground leases on institutional quality properties. As the founder, investment manager and largest shareholder of Safehold Inc. (NYSE: SAFE), the creator of the modern ground lease industry, iStar is using its national investment platform and its historic strengths in finance and net lease to expand the use of modern ground leases within the
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SOURCE iStar Inc.
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