UNLOCK THE POWER OF THE VAULT

Industrial Property Trust Preps $600 Million Follow-on Offering

July 27, 2016

 

 


 

Industrial Property Trust Preps $600 Million Follow-on Offering

July 25, 2016 | by DI Wire

money-buildingIndustrial Property Trust Inc., a publicly registered non-traded real estate investment trust, has filed an S-11 with the Securities and Exchange Commission for a proposed $600 million follow-on offering to meet its capital raising goals.

IPT said that it does not intend on registering new shares for the follow-on, but instead, plans to carry forward any unsold securities registered in its current public offering.The company seeks to offer $450 million in class A and class T shares and $150 million in distribution reinvestment plan shares.

Like in the initial public offering, Class A shares will be sold for $10.44 each, and will include a 7 percent sales commission, a 2.5 percent dealer manager fee, and no distribution fee. Class A DRIP shares will be priced at $9.92 each.

 

Article Located Here

Print Friendly, PDF & Email
Go Back
Thomas E. Burns, III
July 29, 2015
February 22, 2016

I subscribe to Blue Vault to keep up with the sponsors and their wholesalers! The analysis keeps me up to date with the various portfolios and the way they are managed, including the differences between them.