Can’t refinance? Try an IPO

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From the New York February issue: When all else fails, there’s always the stock market. That seems to be
the mantra of many real estate companies that, faced with few options
for raising cash, are turning to the equity markets and issuing initial
public offerings.
Real estate investment trusts, or REITs, sold nearly $3 billion
worth of IPOs last year. Nine REITs went public, making REITs the
second most popular type of IPO after tech firms.
The list included some big names, such as Starwood Property Trust,
New York City-based Apollo Commercial Real Estate Finance, Colony
Financial and, most recently, Pebblebrook Hotel Trust.
Sources say these REITs are coming to market with IPOs for several key reasons. [more]