The looming maturities of commercial real estate loans that probably won't be extended, rolled over or refinanced are the force driving the sudden rush to take new mortgage REITs public. The success of recent IPOs and secondary offerings has demonstrated the capital markets are receptive to publicly traded REITs. That means for the moment, public REITs are the most promising source for new capital to buy or pay off existing debt secured by commercial property. Today's facts have a lot in common with the REIT IPOs of the 1990s.

Full Story:

Related Summaries