REIT Legal Expert Sees Challenging IPO Market

June 11, 2019

REIT Legal Expert Sees Challenging IPO Market

May 22, 2019 | Sarah Borchersen-Keto | Reit.com

The REIT market has seen just a single initial public offering (IPO) this year, and signs are pointing to a dearth of activity for the remainder of 2019, according to Justin Salon, REIT practice co-chair at law firm Morrison & Foerster LLP.

“Typically, you have a handful. To have just one as we sit here almost at June is certainly a downturn in the market,” Salon said. While Morrison & Foerster currently has two IPOs in registration, generally “we’re not seeing a whole lot…we may see a couple this year,” he added.

Postal Realty Trust, Inc. (NYSE: PSTL), a REIT that owns and manages properties leased to the United States Postal Service (USPS), listed on the New York Stock Exchange on May 15.

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Loreen M. Gilbert, CIMA, AIF, CRC, CLTC – President, WealthWise Financial Services
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