Rodin Global Property Trust files for $1.25B best-efforts offering
March 20, 2020 | Sylvia Cycil | S&P Global Market Intelligence
Rodin Global Property Trust Inc. filed for a best-efforts offering of up to $1.25 billion of its common stock, consisting of up to $1 billion of shares in a primary offering and up to $250 million of shares under its distribution reinvestment plan.
The offering comprises a combination of class T, S, D and I shares at an initial price of $25.11 per share, subject to adjustments based on the company’s most recently calculated net asset value per share.
The commercial real estate company is externally managed by its adviser, Rodin Global Property Advisors LLC, a unit of its sponsor, Cantor Fitzgerald Investors LLC.
Rodin Global aims to use the bulk of the net proceeds to purchase a diversified portfolio of stabilized income-producing commercial real estate, debt secured by commercial real estate and other real estate-related assets.
Cantor Fitzgerald & Co. is the dealer manager for the offering.
