Conversant Capital's Strategic Investment in Bond Street REIT

Fried Frank is advising Conversant Capital on its commitment to invest up to $300 million of growth equity in Bond Street REIT, a real estate investment trust (REIT) and leading owner of Class A convenience retail shopping centers. The investment will be used to expand Bond Street's 39-asset portfolio and capitalize upon the strong fundamentals exhibited by well-located, necessity-oriented convenience retail in the Southeast & Midwest regions of the United States. With proceeds from Conversant's investment, Bond Street anticipates acquiring over $150 million of assets annually and has $60 million of new acquisitions identified and expected to close in the coming months.

Conversant Capital is a private investment firm founded in 2020 and pursues credit and equity investments within the real estate, digital infrastructure and hospitality sectors in both the public and private markets. Fried Frank's work on this investment represents both the firm's strengths in transactions related to private capital in the real estate sector and REITs, in particular.

The Fried Frank team was led by partner Andrew Ebersbach.