Times, they are a-changin’! Just nine years ago, the United States – specifically Arizona – went through one of the worst financial depressions since the Great Depression in the late 1920s. Now, large institutional investors are doubling down on real estate companies, specifically ones based out of Arizona!
Store Capital Corp. announced the transaction Monday morning. The company said it sold 18.6 million shares to National Indemnity Co. in a private placement. The transaction will give the Berkshire Hathaway unit a 9.8 percent stake in the Scottsdale real estate investment trust or REIT. The investment represents a vote of confidence in the 6-year-old Scottsdale company, which provides financing for roughly 1,750 properties in 48 states. Read more here at AZ Central!