ORLANDO-Macquarie CNL Global Income Trust, a publicly-registerednon-traded real estate investment trust, announced a monthly cashdistribution of $0.0017808 per day per share on the outstandingshares of common stocks. On an annualized basis, with the REIT’soffering price of $10 per share, the distribution will yield a 6.5%return. The board of directors approved the distribution on May25.

“If you look at the universe of non-traded REITs,” says CurtisMcWilliams, president of Macquarie CNL, Global Income Trust inOrlando, the 6.5% return is about average. Most similar REITs havea 6% to 7% distribution level, he says, at the same time pointingout that the trust has no assets yet. Macquarie CNL Global IncomeTrust became effective as a REIT, April 23.

The initial offering by the Macquarie CNL REIT was for $1.5billion in common shares on April 26. CNL Securities Corp., asubsidiary of CNL Financial Group, Inc., will serve as the managingdealer.