I REIT Global Management could raise $300 million in an initial public offering in Singapore, according to sources. The property trust is backed by office buildings in Germany. The Singapore exchange has granted it listing approval, and the REIT is investigating investor appetite.
Rexford Industrial Realty has acquired an industrial property in Yorba Linda, Calif., for $12.7 million. It was a lender-owned property bought through an auction. The company’s investment strategy is focused on acquiring and operating industrial properties in Southern California infill markets.
Rexford Industrial Realty has acquired The Park, an industrial business park in Anaheim, Calif. It paid $10.6 million for the property, funding the purchase in part by assuming its first mortgage loan.
CNL Commercial Real Estate plans to invest $300 million in the next 18 months on new acquisitions and development projects. It is targeting retail, industrial and office asset classes in markets across the Southeast and Texas. The REIT sees so much opportunity in this space that it expects a Fund 2, 3 and 4 will follow, says Moses Salcido, CNL Commercial Real Estate’s new managing director.