| NEW YORK, March 20
NEW YORK, March 20 Green Street Advisors Inc,
the provider of research on real estate investment trusts
(REITs) whose services are widely used by property investors, is
exploring a sale, according to three people familiar with the
The Newport Beach, California-based company has attracted
interest from financial investors, including private equity
firms, the people said this week, asking not to be identified
because the sale process is not public.
Privately held Green Street is working with investment bank
Evercore Partners Inc to identify and negotiate with
potential buyers, one of the people said.
"We won't comment publicly on any rumors about Green Street
or our clients," Green Street Advisors President Craig Leupold
said by email. An Evercore spokesman also declined to comment.
Founded in 1985, Green Street makes recommendations on more
than 100 publicly traded real estate stocks in North America and
Europe as well as market forecasts on commercial property values
and the fortunes of REITs.
It provides data and analytics to a long list of clients
that includes institutional investors, private equity firms,
real estate owners and developers, retailers, pension funds and
It was not immediately clear why the employee-owned company
had decided to explore a sale now. Green Street has a small
workforce of just over 75 people, according to its website.
The combined market capitalization of REITs, whose largest
players include Simon Property Group and General Growth
Properties Inc, exceeded $600 billion in 2013, surging
from $3 billion in 1986, according to Green Street's website.
(Reporting by Soyoung Kim and Greg Roumeliotis in New York;
Editing by Cynthia Osterman)