SYS-CON MEDIA Authors: Bob Gourley, Lori MacVittie, RealWire News Distribution, Cynthia Dunlop, Mark O'Neill

News Feed Item

Non-Traded REIT Secondary Market Strengthens

SCOTTSDALE, Ariz., Dec. 9, 2013 /PRNewswire/ -- REITCO LLC, the country's largest purchaser of non-traded REITs on the secondary market, has announced the restructuring of their pricing policy.  They have increased their offers for Inland American Real Estate Trust, CPA 16 (Corporate Property Associates 16) and TIER REIT (FKA Behringer Harvard REIT I).

Inland American has stated they intend to consider liquidation events but have not stated anything definitively and it appears that final liquidity is still several years away.  REITCO'S pricing has, nevertheless, increased to approximately 85% of the sponsor's announced net asset value of $6.93.

CPA 16, a product of W P Carey, is also considering a liquidity event but the proposal is subject to a vote of the shareholders and the pricing is subject to the market variations for WPC stock.  While CPA 16's posted a net asset value is $8.70, REITCO LLC now will buy unit very close to the original offering price of $10.00.

TIER REIT is the largest REIT without regular distributions.  Shares for this REIT are being purchased at about $1.80 or 18% of original face. 

You can contact Larry Cohen at REITCO at 602-721-4730 or for additional information.  REITCO also purchases other non-traded REITs and other illiquid assets.  If there is no sustained public market for your security, REITCO will consider making you an offer. 


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.