Bond Street REIT Announces Strategic Investment of up to $300 million from Conversant Capital to Scale Portfolio

Capital to accelerate acquisitions of convenience retail shopping centers in the Southeast & Midwest

CHARLESTON, S.C., Sept. 3, 2025 /PRNewswire/ -- Bond Street REIT ("Bond Street", or the "Company"), a leading owner of Class A convenience retail shopping centers, today announced that affiliates of Conversant Capital LLC ("Conversant") have committed up to $300 million of growth equity to its private REIT (the "REIT").

The investment will be used to expand Bond Street's 39-asset portfolio and capitalize upon the strong fundamentals exhibited by well-located, necessity-oriented convenience retail. Limited supply, strong tenant demand and low capital intensity are hallmarks of the asset class. These attributes, when combined with Bond Street's proven operating model and sourcing capabilities, create a compelling opportunity for long-term value creation.

With proceeds from Conversant's investment, Bond Street anticipates acquiring over $150 million of assets annually and has $60 million of new acquisitions identified and expected to close in the coming months. Contemporaneously with Conversant's commitment, assets held in separately capitalized Bond Street-advised entities will roll into the REIT. 

"We are delighted to announce Conversant's commitment and are excited for our partnership. It is clear to us that their experience in scaling real estate platforms will be invaluable as we embark on the next phase of our growth" said Michael D. Reynolds, Founder & Chief Executive Officer of Bond Street. "Their investment will enable us to play offense and capitalize upon the mispricing we see in attractive convenience retail assets. We will further build on our position as the buyer of choice for owners seeking liquidity and have the capabilities to acquire assets through tax efficient structures."

Since its founding in 2014, Bond Street has assembled an attractive portfolio of convenience centers in high-growth, low-tax, southern markets. Its multi-tenant assets are in top suburban locales on busy intersections, benefiting from strong necessity-oriented tenancies and favorable demographics. Its portfolio is spread across South Carolina, North Carolina, Virginia, Tennessee, Alabama, Georgia, Indiana, Kentucky and Texas.

The Company's portfolio counts Starbucks, Chipotle, and Panera Bread as top tenants and has demonstrated industry-leading operating metrics, including capital expenditures as a percentage of NOI below 8% and double-digit re-leasing spreads.

"We are thrilled to be partnering with Bond Street and have been impressed with the portfolio Michael and the team have built. Now is an opportune time to acquire convenience retail assets, and we're excited by the opportunity to scale the Bond Street platform," said Michael Simanovsky, Managing Partner of Conversant. "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.

About Bond Street REIT

Bond Street REIT is a private real estate investment trust focused on the acquisition and ownership of Class A convenience retail centers across high-growth Southeast and Midwest markets. Further information is available at www.bondstreetreit.com.

About Conversant Capital

Conversant Capital LLC is a private investment firm founded in 2020. The firm pursues credit and equity investments within the real estate, digital infrastructure and hospitality sectors in both the public and private markets. Further information is available at www.conversantcap.com.

Media Contact

For Bond Street:
Maria Castellano
Bond Street REIT
[email protected]
843-414-4328

For Conversant Capital
Josh Clarkson
Prosek Partners
[email protected]
212-279-3115

SOURCE Bond Street REIT