GEG News & Events

Great Elm Group files to sell 2M shares of common stock

Great Elm Group files to sell 7.35M shares of common stock for holders

Great Elm Group announced a strategic partnership with KLIM. This partnership delivers up to $150M in leverageable capital to support continued growth across Great Elm's real estate platform, which includes Monomoy REIT, Monomoy CRE, Monomoy Construction Services and Monomoy BTS. Under the terms of the transaction, KLIM is providing an initial $100M term loan to Monomoy REIT, and the option for an additional $50M in future capital. Additionally, KLIM is purchasing 4.9% of GEG's common stock at market price, approximately $2.11 a share, and will hold an initial 15% profits interest, which may be increased to 20% under certain circumstances, in the newly formed Great Elm Real Estate Ventures, which consolidates GEG's real estate subsidiaries: MCRE, MCS, and MBTS.

Great Elm Group announced the formation of Monomoy Construction Services upon acquisition of Greenfield CRE's assets. The result will combine the construction talent from Greenfield with civil engineering and land planning talent at Monomoy BTS Construction Management to form MCS, which will operate adjacent to Monomoy's industrial asset management business Monomoy CRE, to provide an integrated business model in the industrial real estate market. With this acquisition, Monomoy will offer a full-service suite of project management, procurement, construction management, asset management, market analysis and feasibility for its industrial real estate tenants.