RCA in the commercial property press:

Terreno Realty Set To Raise $300M In IPO

ABC News reports: Terreno Realty Corp. is expected to sell $300 million in stock this week, making it the second-biggest initial public offering so far in 2010. The real estate investment trust plans to put that money to use buying troubled industrial properties at a bargain.

The commercial real estate market has been rocked by weak rents, climbing vacancies and landlords saddled with high debt. More than 8,000 U.S. properties, worth $170.6 billion, are in foreclosure, bankruptcy or have restructured loans, according to real estate data tracker Real Capital Analytics.

However, pickings in the industrial sector are scant compared to other property types. Only 630 properties, representing $5.1 billion, are troubled.

Articles related to this topic:

 REITs Lead Industry's Recapitalization
 Growth Of Distressed Commercial Properties Slows, Hits $17.6 Billion
 Flush REITs Have Loads Of Cash, Little To Spend It On

Posted by: Mark Alferman

<< Prev

Next >>