At the end of September, Phoenix-based Cole Real EstateInvestments filed two registration statements with the Securitiesand Exchange Commission: one for Cole Advisor Retail Income REIT,the other for Cole Advisor Corporate Income REIT. The offering foreach was up to $3.5 billion, for an aggregate $7 billion.
Cole is a non-traded REIT—one of the most prolific, in fact, interms of fundraising. Yet the capital markets met its announcementwith the barest of acknowledgements. By contrast, if a publiclytraded REIT made a play for a capital raise of $7 billion, themarket would still be talking about it weeks later, says Keith D.Allaire, managing director and head of Robert A. Stanger &Co.’s Financial Advisory Services Group.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
