Great elm group inc. enters private reit industry through acquisition of management agreements for monomoy properties reit

Waltham, mass., may 05, 2022 (globe newswire) -- great elm group, inc. (“we,” “us,” “our,” “geg,” or “great elm”) (nasdaq: geg), a diversified holding company, today announced that great elm capital management, inc. (“gecm”), a subsidiary of geg, acquired the investment management agreement for monomoy properties reit, llc (“monomoy reit”) and certain other related assets from imperial capital asset management, llc (“icam”) for an upfront purchase price of $10 million. in connection with the transaction, geg committed to investing $15 million into monomoy reit and intends on investing an additional $15 million in monomoy reit over the next 12 months, although it is not contractually obligated to do so.
GEG Ratings Summary
GEG Quant Ranking