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 matter. 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.
Evercore Partners Inc. (Evercore) is an independent investment banking advisory firm. Shares of EVR traded higher by 1.36% or $0.79/share to $58.75. In the past year, the shares have traded as low as $34.75 and as high as $63.66. On average, 376525 shares of EVR exchange hands on a given day and today's volume is recorded at 174026.
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