Adelante Capital Management

Adelante Capital Management Founded in 1995, Adelante is a global investment management firm specializing in real estate securities. Disclosure: http://bit.ly/AdelanteSocial
Adelante currently manages $2.3 billion for public and corporate pension funds, foundations and endowments, and individual investors. Client assets are managed through a variety of investment vehicles, including separate accounts and commingled funds. To learn more, please visit www.adelante.com.

Adelante Capital Management is a minority and employee-owned global investment management firm specializing in real estate securities. Since 1995, Adelante's team of investment professionals have created and managed portfolios of listed real estate and REITs built on the conviction that each company's underlying real estate assets are the key drivers to long term security performance. In 2006, Adelante expanded its reach and offers a region neutral global strategy.

Mission: We believe: Real estate assets are the key drivers of company performance – Focusing on underlying real estate value differentiates us from many of our earnings growth-based competitors. Objective, on-site property research discerns the value of real estate assets – Visiting properties owned by our portfolio companies is essential to ascertain NAV. Comparison of stock price to real estate value is the best way to determine return opportunities for individual companies – Investing based on the premise that stock price trends toward private market value over time.

06/28/2019
Corporate Office Properties Trust (OFC) | Adelante Capital Management

Corporate Office Properties Trust (OFC) | Adelante Capital Management

Corporate Office Properties Trust (OFC) announced the formation of a joint venture with Blackstone Real Estate Income Trust, Inc. to acquire seven of COPT's existing, single-tenant, data center shell properties.

06/28/2019
Federal Realty Investment Trust (FRT) | Adelante Capital Management

Federal Realty Investment Trust (FRT) | Adelante Capital Management

Federal Realty Investment Trust (FRT) announced the sale of Free State Shopping Center to New Market Properties, LLC, a wholly-owned indirect subsidiary of Preferred Apartment Communities, Inc., for $72.0M. Free State Shopping Center is a 264K square foot Giant Food anchored shopping center located....

06/07/2019
American Tower (AMT) | Adelante Capital Management

American Tower (AMT) | Adelante Capital Management

American Tower (AMT) announced that it had entered into an agreement to acquire Eaton Towers Holding Limited for approximately $1.85B. Eaton Towers runs 5,500 communications sites in Africa and is expected to generate roughly $260M in property revenues over a one year period.

05/28/2019
Alexander & Baldwin, Inc. (ALEX) | Adelante Capital Management

Alexander & Baldwin, Inc. (ALEX) | Adelante Capital Management

Alexander & Baldwin, Inc. (ALEX) completed a $90M off-market acquisition of the Queens' MarketPlace, a grocery-anchored resort retail center in the Waikoloa Beach Resort on the island of Hawaii.

05/28/2019
Senior Housing Properties Trust (SNH) | Adelante Capital Management

Senior Housing Properties Trust (SNH) | Adelante Capital Management

Senior Housing Properties Trust (SNH) announced that it has sold four properties for an aggregate sales price of $24.1M. One property is located in Colorado, and the other three in Southern California. The sales were part of SNH’s previously announced disposition plan of up to $900M of assets.

05/28/2019
Equinix (EQIX) | Adelante Capital Management

Equinix (EQIX) | Adelante Capital Management

Equinix (EQIX) stated on its earnings call that they plan to open 12 new International Business Exchange (IBX) data centers and expand 23 existing IBX data centers in 2019. The plan is part of an expected $1.73 to $1.92B non-recurring capital expenditure expansion program.

05/09/2019
JBG Smith Properties (JBGS) | Adelante Capital Management

JBG Smith Properties (JBGS) | Adelante Capital Management

JBG Smith Properties (JBGS) announced that it had executed an agreement with Amazon to lease an additional 47.5K square feet of office space in Northern Virginia. The new agreement now brings Amazon’s total footprint to 584.5K sq. ft. in four JBG Smith office buildings.

05/09/2019
Summit Hotel Properties (INN) | Adelante Capital Management

Summit Hotel Properties (INN) | Adelante Capital Management

Summit Hotel Properties (INN) sold 6 hotels for $135M. The sale resulted in a net gain of $36.6M, which the company has stated will be used to reduce the outstanding balance of Summit’s unsecured revolving credit facility.

04/12/2019
Industrial Logistics Properties Trust (ILPT) | Adelante Capital Management

Industrial Logistics Properties Trust (ILPT) | Adelante Capital Management

Industrial Logistics Properties Trust (ILPT) announced that is has closed on the previously announced acquisition of a portfolio of 18 properties for $624.7 million from affiliates of Cole Office & Industrial REIT.

04/12/2019
WashREIT (WRE) | Adelante Capital Management

WashREIT (WRE) | Adelante Capital Management

WashREIT (WRE) entered into a definitive agreement to purchase a 2,113 unit multifamily portfolio, consisting of seven suburban Class B apartment communities in northern Virginia and Montgomery County, Maryland, for approximately $461M.

04/05/2019
Cousins Properties (CUZ) | Adelante Capital Management

Cousins Properties (CUZ) | Adelante Capital Management

Cousins Properties (CUZ) and TIER REIT (TIER) entered into a merger agreement to combine in a 100% stock transaction. Under the terms of the agreement, Cousins will issue 2.98 shares of newly issued common stock in exchange for each share of TIER stock.

04/05/2019
Office Properties Income Trust (OPI) | Adelante Capital Management

Office Properties Income Trust (OPI) | Adelante Capital Management

Office Properties Income Trust (OPI) completed the sale of 500 First Street NW in Washington, D.C. to Georgetown University for $70M. The currently vacant 130K sq. ft. office building is located near Georgetown’s law school campus and within a half mile of Union Station.

Terreno Realty Corporation (TRNO) | Adelante Capital Management
04/05/2019
Terreno Realty Corporation (TRNO) | Adelante Capital Management

Terreno Realty Corporation (TRNO) | Adelante Capital Management

Terreno Realty Corporation (TRNO) announced the sale of an industrial property in Corona, CA for $12.4M. The property consists of one industrial distribution building containing approximately 90,000 square feet on 5.0 acres.

02/05/2019
Marriott International, Inc. (MAR) | Adelante Capital Management

Marriott International, Inc. (MAR) | Adelante Capital Management

Marriott International, Inc. (MAR) stated that it had been taking a hit from the Government shutdown. Marriott’s Global Chief Commercial Officer, Stephanie Linnartz stated that Marriott’s 150 hotels in the Washington, D.C. area have seen double digit declines since the shutdown started.

02/05/2019
Uniti Group, Inc. (UNIT) | Adelante Capital Management

Uniti Group, Inc. (UNIT) | Adelante Capital Management

Uniti Group, Inc. (UNIT) entered into a partnership with Macquarie Infrastructure Partners to acquire the fiber assets of Bluebird Network, LLC for $319M. As part of the deal, Uniti is selling their fiber operations to Bluebird for $6M, maintaining ownership of the fiber assets which will be leased....

12/27/2018
Simon Property Group (SPG) | Adelante Capital Management

Simon Property Group (SPG) | Adelante Capital Management

A report on Dealreporter stating that Simon Property Group (SPG) could have been weighing a bid for Macerich Company (MAC) was denied by a Simon spokesman to Bloomberg news. Shares of MAC had jumped over 7% on the news but later lost most of the gains following the denial by SPG.

3Q18 Capital Market Review | Adelante Capital Management
10/30/2018
3Q18 Capital Market Review | Adelante Capital Management

3Q18 Capital Market Review | Adelante Capital Management

Make no mistake; the US economy is doing well. The third estimate of Second Quarter GDP growth came in at 4.2% compared to 3.0% for Second Quarter 2017 and the latest estimate for Third Quarter GDP growth from the Federal Reserve Bank of Atlanta is 4.2%. According to the Bureau of Labor Statistics,....

3Q18 Capital Market Outlook | Adelante Capital Management
10/30/2018
3Q18 Capital Market Outlook | Adelante Capital Management

3Q18 Capital Market Outlook | Adelante Capital Management

In an era of rising rates, proponents of sectors like Utilities and REITs which are perceived to be interest rate sensitive can only offer two arguments in their defense: (i) interest rates (on the long end) aren’t going to go up much further or (ii) the afore-mentioned sectors aren’t really neg...

2Q18 Capital Market Outlook | Adelante Capital Management
09/14/2018
2Q18 Capital Market Outlook | Adelante Capital Management

2Q18 Capital Market Outlook | Adelante Capital Management

To a certain extent, all of the headwinds confronting the asset class are still gusting against the bow of USS REITs but perhaps the 13% decline to start the new year was overdone. Retail REITs still comprise 18% of the Index but sentiment has certainly shifted in favor of the tenants and, by extens...

2Q18 Capital Market Review | Adelante Capital Management
09/14/2018
2Q18 Capital Market Review | Adelante Capital Management

2Q18 Capital Market Review | Adelante Capital Management

US equity investors spent most of Second Quarter wondering if the various indices would revisit the lows made in February. From a top down perspective, they had every reason to worry: (i) an activist FOMC, (ii) trade wars all around and (iii) mega-cap tech companies under regulatory threat.

09/05/2018
Brookfield Property Partners LP (BPY) | Adelante Capital Management

Brookfield Property Partners LP (BPY) | Adelante Capital Management

Brookfield Property Partners LP (BPY) announced the completion of its acquisition of General Growth Properties (GGP). In connection with the closing, Brookfield Property REIT (BPR) was created as a public security that is intended to offer economic equivalence to an investment in BPY.

09/05/2018
Pebblebrook Hotel Trust (PEB) | Adelante Capital Management

Pebblebrook Hotel Trust (PEB) | Adelante Capital Management

Pebblebrook Hotel Trust (PEB) increased the terms of their offer for Lasalle Hotel Properties (LHO). The new proposal increases the number of LHO shares that can receive cash to 30%, a 50% increase from the previously offered 20%.

Address

555 12th St, Ste 2100
Oakland, CA
94607

Opening Hours

Monday 09:00 - 17:00
Tuesday 09:00 - 17:00
Wednesday 09:00 - 17:00
Thursday 09:00 - 17:00
Friday 09:00 - 17:00
Saturday 09:00 - 18:00
Sunday 08:00 - 20:00

Telephone

(510) 986-2100

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