9/24/2009

Demand for the shares of new mortgage REITs launching IPOs might be slowing. Apollo Commercial Real Estate Finance and Colony Financial were forced to cut the size of their IPOs in half. "All are chasing the distressed [mortgage market] when in fact there are already publicly traded companies that have track records with far greater assets and name recognition doing the same thing," said Scott Sweet, managing director of research firm IPOBoutique.com.

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