Bond Street REIT, a leading owner of Class A convenience retail shopping centers, announced that affiliates of private investment firm Conversant Capital LLC have committed up to $300 million of growth equity to its private REIT. The capital infusion will accelerate portfolio expansion beyond Bond Street’s 39 existing assets, with $60 million of new acquisitions already identified and expected to close in the coming months.  

Backed by Conversant’s support, Bond Street plans to acquire more than $150 million of assets annually, with existing separately capitalized Bond Street-advised entities rolling into the REIT as part of the transaction. 

Since its founding in 2014, Bond Street has built a footprint of convenience-focused retail centers anchored by national tenants including Starbucks, Chipotle, and Panera Bread, with assets concentrated in high-growth, low-tax states such as South Carolina, North Carolina, Virginia, Tennessee, Alabama, Georgia, Indiana, Kentucky, and Texas. 

“Their investment will enable us to play offense and capitalize upon the mispricing we see in attractive convenience retail assets,” said Michael D. Reynolds, founder & CEO of Bond Street. Conversant Managing Partner Michael Simanovsky added, “With the attractive supply dynamic, strong market rent growth, and institutionalization of the asset class, we see convenience retail as uniquely positioned to outperform over the long term.” 

Bond Street was advised by Allen Matkins Leck Gamble Mallory & Natsis LLP and Forvis Mazars. Conversant was advised by Fried Frank, Harris, Shriver & Jacobson LLP, JLL, and George Smith Partners. 

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