Asset manager Yieldstreet is near a deal to buy Cadre, a once-promising real estate investment firm whose value has fallen sharply in recent years, said people familiar with the situation.
If the two sides finalize an agreement, it would be the latest sign that mergers and acquisitions activity among troubled startups is beginning to pick up as founders accept that valuations are not likely to recover. Cadre shareholders are expected to get stock in Yieldstreet. The valuation of Cadre could be around $100 million, one person close to the situation estimated, which would be a sharp discount from Cadre’s peak valuation of $800 million set six years ago.
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