In an article titled “A Critical Look at REIT IPOs,” Forbes quotes Morrison & Foerster REIT co-head Justin Salon on the current REIT initial public offerings landscape. Justin’s comments first appeared in an article he wrote for Forbes Real Estate Investor, which ran in the latest issue of the newsletter.
Forbes points out that the number of REIT IPOs has fallen since 2013. Justin says, "The reasons for the decline in REIT IPO volume are varied and subject to different interpretations. Based on feedback from some of the largest investment banks covering the REIT space, smaller IPOs may continue to face headwinds unless the investment thesis for those deals is truly differentiated. Otherwise, many institutional investors may elect to continue to initiate or maintain positions in existing well-established REITs."
Read the full article.