and thank our Adam President I'm us today. CFO, Pearson. this this everyone, COO, Welcome, joining Kleinman; afternoon you and morning Brent -- for our by and joined
important have we million earnings. leased with seen, entered trust business we private the REIT you conjunction of Investment for REIT, assets announced XXX-property acquisition through diversified of an real real net may Monomoy investment transaction a private in of portfolio representing As estate Yesterday, Management agreement $XXX with a Properties the industrial estate. our
be member. objectives should to by and This every strategic supported transaction we exactly further our is is doing Board what
For level, dedicated reference, progress for vehicles. our we believe added of towards fee diversified strategy a presentation At are recurring earnings investment number and generating long-duration our we a transaction. the demonstrates high a represents transformative of acquisition a our set slides managing business this of to significant transaction management to that capital
than more from AUM approximately million $XXX to million. doubled Our $XXX
XXXX, quarter. $X.X would financial have equal property an of management asset will of NAV pro gross REIT quarter management the In million to in a forma X% management to million rents. to X% property equal for fee From transaction, addition Monomoy in GECM REIT's asset management and for perspective, been first fees the the fees the were $X.X the fees earn
at price revenues vehicle. Annualizing first annualized 'XX forma entry this the believe quarterly $X.X million point basis. result, an $XX attractive this a approximately growing We is fees annualized pro an represents X.Xx million purchase durable in approximately on on upfront capital quarter
to by investing outline our like the the X pieces: Taking thesis back, speaking a key to into transaction's and acquiring the I'd step manager REIT.
its management strategy and NOLs. management expertise utilize our capital our management and resources, vehicles of another furthers adds rights the acquisition to to Firstly, that including investment leg stool the Board, our long-duration of acquiring GEG's manager financial
advantage it durable. forma permanent given tax Moreover, acquisition capital by in The Monomoy fixed price. raising a additional GEG the allow that there provides skilled revenue the REIT. REIT unique with vehicle capital attractive fees this platform and seasoned and in to the believe structure a capital the and revenue, is into are GEG's a converting backed is therefore, at we to outlined purchase believe competitive Specifically, as is fee management growth X.Xx for the sticky, leverage team. And overhead. an will compelling, the underlying We pro a earlier, management is is path annualized
the offer record as poised track making strong has across this portfolio as our tax a we Properties REIT which a of unique million is of a gains. to part diversified the on sustainable with the XX an GEG XXXX large the XXXX. investment long-term industrial are June grown Secondly, income into current to shield This to estate XX, growth a transaction strategic provides states private GEG's of which March advantage and into growth. of the follows investment both The properties $X.X attributes, portfolio REIT, for additional build-to-suit and of access REIT, $X.X Monomoy XXX-property is XX Monomoy real a team, which Monomoy million trust pipeline and based investment the management tenants. investment into investment
footprints single March real representing net focuses at markets XX, and streamlining million value as assets, with the underlying acreage. demographics, trust critical The estate light and mutually properties investments on of relationships and with management REIT of beneficial $XXX holds significant of economic tenant's estate. in small a leased building gross of on trends tenant, XXXX favorable industrial The building diversified industrial real while targets portfolio fair
million. Great and GECM are million an components. $X.X stock, purchase million that note of GEG; a of million $X.X combination has closing, upfront approximately principal in multiple of $XX newly shares by common at of aggregate amount of Elm Capital in to the financed with include promissory or issued a issued of acquisition Corp., stock agreed $X.XX shares owned of three, price GECC, in GEG The by terms GEG an
REIT are June June and earn-out subject there targeted payments of XX, to $XX to fiscal has investment contractually the Monomoy an additional to each XXXX. targets revenue of million Also, to meeting a XXXX, the committed to do addition, million up the XX $X invest XX, months, obligated equity X growth. fund In $XX GEG $XX to transaction next investing it and not into years includes following over the million growth ending up intends million is although so. to
represents potential In substantial Monomoy GEG. growth for value the summary, REIT's opportunity creation a
growth. to his team Chris and to management our We with are excited investment partner segment's Macri accelerate
we for senior statement From notes. a a a offering of registration perspective, filed yesterday, capital $XX unsecured million
proceeds other Monomoy the to make investments general making offering and/or in corporate subsidiary for or use including to net investments of preferred the expect or indebtedness. opportunistic this refinancing stock REIT We purposes,
the ahead, as capital likely a Looking for template offering future raises. serves
Turning solid quarter Top results the trends, year-over-year performance, and transaction. transformational advantages revenue consolidated ended XX, across both to for our line by segments was and a basis. for with DME of growth, XX% in growth on businesses we poised delivered competitive growth sustainable quarter Investment March Management highlighted another XXXX, a demand reflecting our broad-based durable
new focused Management and We the quarter, as driven for by XX% Revenue co-investment equity as and Investment year GECC the by the our relationships our issuances rising additional through GECC launches for by remain through diversifying opportunities. clients fund opportunistic on by growing and AUM on platform quarter adding debt additional raises, prior grew investment Focusing expanding and well segment. other versus vehicles. and M&A
inventories. Medical the limited reported chain supply we On medical headwinds, and device again ongoing Durable Equipment macro growth despite side, issues revenue strong persistent including
our remain strong trends demand sustainability of current which as the ahead, Looking for bodes backlog, evidenced growth. well pace and by
shares, As Great or the is the I manage Employees value to collectively our including to disconnect approximately we and wanted believe practice, team a between reiterate under and acquisition directors, powerful their funds Elm GEG outstanding XX% the shareholders. of properties Monomoy exists own the following meaningful the the stock. Elm strong standard current alignment Great Elm's of management, of the platform, and continue Great of price underlying and between particularly
detail. results quarter With Brent discuss Brent? it that, financial turn to I'll our the in over for more to
