RW Holdings NNN REIT Inc. said it intends to explore a possible acquisition of Rich Uncles Real Estate Investment Trust I or its portfolio.

The target company had commenced an evaluation of strategic alternatives in January.

RW Holdings' board formed a special committee composed of independent directors to evaluate a potential transaction. The company owns a roughly 4.8% interest in Rich Uncles REIT I.

The special committee has enlisted UBS Investment Bank as financial adviser and Morris Manning and Martin LLP as legal adviser.

RW Holdings and Rich Uncles REIT I are affiliated entities, both sponsored by BrixInvest LLC.

According to a release, the special committee has no defined timetable for completing its evaluation, and there can be no assurances that the review process would result in a deal.