Blind Pool Reit
According to a filing with the securities and exchange commission realtymogul is looking to offer a new blind pool reit under reg a.
Blind pool reit. The offering is seeking up to 50 million from both. Reit still has to invest. Sure you do because the good old days for blind pool investments have never disappeared for long.
The types of properties that a non traded reit invests in early on might be unknown to the investors and the initial property acquisitions might be made through a blind pool where the investors. The following table summarizes the new staff guidance as it applies to reits that are conducting blind pool offerings subject to industry guide 5 as compared to the staff s previous guidance. A number of experienced former reit managers are trying to launch blind pool reits companies that begin with no assets other than the manager s.
A little more on what is a blind pool. These are lengthy legal documents that detail the investment and the risks involved. A blind pool is a direct participation program or limited partnership that lacks a stated investment goal for the funds that are raised from investors.
Blind pool party peter slatin 03 25 10 09 00. Generally blind pools are flexible they have the advantage of looking for profitable opportunities unlike a reit that must invest in property even if it flounders or is insolvent. It should be clearly stated within that the offering is a blind pool.
Blind pool funds are usually solicited by way of an offering memorandum om private placement memorandum ppm or a prospectus. Researching blind pool investments. A blind pool reit you might like by lanres remember the good old days when syndicators used to launch new investment vehicles sometimes in the form of reits that were blind pool investments i e no properties were owned or controlled at the time of initial capital raising.
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