The offering, if successful, could raise between $187.5 millionand $212.5 million for the company. The firm revealed its intent toissue the IPO in March. The net proceeds of a private placement of20 million shares of common stock to institutional and accreditedinvestors last year raised $300 million for the company. The goalis to have its stock listed on the New York Stock Exchange underthe ticker symbol "CBZ."

As GlobeSt.com reported previously, Realty Finance intendstoconvert to aREIT. Credit Suisse, Deutsche Bank Securities, Citigroup,Wachovia Securities and JMP Securities are underwriters in the IPO.At the completion of the offering, the company estimates it willhave 31.7 million shareholders. In the filing, the firm states itwill use the proceeds of the offering to repay outstandingindebtedness under its warehouse facilities.

Realty Finance reported total revenue of $15.4 million and netincome of $2.3 million for the second quarter ended June 30. As ofAug. 30, the company had an investment portfolio valued at a littlemore than $1 billion. It was broken down as follows: $478 million(whole loans); $155.2 million (B loans); $185.6 million (mezzanineloans); almost $180 million in CMBS transactions and $58.4 millionin joint venture deals.