On January 6, 2022, Montgomery Street Partners launched a $400 million equity follow-on offering on behalf of The Ground Lease REIT, its affiliate ground lease platform, to fund its growing pipeline. This follows the closing of $110 million of common equity, a $60 million senior unsecured credit facility and $75 million of convertible notes into the REIT in the second half of 2021. Proceeds raised in 4Q2021 were utilized to fund three ground lease investments representing approximately $300 million of gross originations.