GRAPEVINE, TX—Common shares of United DevelopmentFunding IV begin trading Wednesday on the NASDAQ GlobalSelect Market. Shares of the REIT, which specializes insingle-family residential finance, will trade under the tickersymbol UDF. Separately, UDF IV has launched a tender offer for upto $35 million of its common shares.
“The housing market continues to strengthen, and capital forresidential development continues to be a challenge,” saysHollis M. Greenlaw, UDF IV's chairman and CEO. “Weare still in the early stages of a housing recovery, and UDF IVwill continue to be an important capital solution for regionalhomebuilders and developers.”
UDF IV concluded its IPO in May 2013, after raisingapproximately $614.7 million in equity. Listing on NASDAQ, says COOStacey Dwyer, provides “broader access to public capital marketsand allows our investors to participate in the anticipatedgrowth.”
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
