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Green Street Advisors to be sold to private equity shop

Welsh, Carson, Anderson & Stowe will acquire the California-based analytics and research firm; no sale price was disclosed

From left: Anthony J Denicola and Craig Leupold
From left: Anthony J Denicola and Craig Leupold

Green Street Advisors, the real estate focused research and analytics firm, has signed an agreement to be acquired by a New York-based private equity firm.

The deal brings an end to a months-long search for a buyer. New York-based private equity firm Welsh, Carson, Anderson & Stowe, known as WCAS, said Monday that it had signed a definitive agreement with the firm.

No sale price was disclosed.

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Craig Leupold, Green Street’s chief executive, said in a press statement that the new ownership would allow the firm to ramp up investments in product innovation, data, sales and customer success and expand into new markets.

Green Street was launched in 1985, and has grown to employ dozens of analysts. Golden Gate Capital acquired the firm in 2014 for an undisclosed price.

WCAS has raised $27 billion capital across 17 partnerships in 40 years. In 2017, the firm opened a San Francisco office to increase its West Coast presence, where Green Street Advisors is based.

On Monday, Real Capital Analytics announced that it raised $115 million to buy out Daily Mail Group Trust’s stake in the real estate data company, which is now valued at roughly $220 million.