The first-ever acquisition for Green Street Advisors places it in the news business as it seeks to grow under a new owner.
The Newport Beach-based real estate consultant and advisory firm said it bought four trade publications—“Real Estate Alert,” “Commercial Mortgage Alert,” “Hedge Fund Alert” and “Asset-Backed Alert”—for an undisclosed sum from Harrison Scott Publications.
The deal is seen as a way for Green Street to broaden its client services at a time when content is seen as king, no matter the industry a business operates in. The acquisition grows Green Street’s presence on the East Coast where the publications’ offices are located.
It also represents more news for the company itself, following its sale to New York private equity firm Welsh, Carson, Anderson & Stowe in August, a move to new offices within Newport Beach and the January appointment of CEO Jeffry Stuek Jr., who succeeded longtime CEO Craig Leupold.
All four just-bought publications were co-founded by Publisher Andy Albert and are expected to continue to operate out of Hoboken, N.J.
The publications deliver news via weekly issues mailed and emailed to subscribers, in addition to a limited amount of articles also published online. Subscriptions, which include the newsletters and access to research databases, range from $4,247 for “Real Estate Alert” on up to $6,697 for “Commercial Mortgage Alert.”
