Shark Week and Morgan Properties Trust

A couple things to get excited about? You better believe it! First of all, Shark Week on the Discovery channel is beginning today! Well, last night to be exact. Anyway, I have no idea why I get so excited about these educational shows about sharks , but I do know that millions of other people love it too. Probably because it is totally awesome, but that's just like my opinion, man.

Another thing that I am excited about this week is the recent news from Morgan Properties Trust. I'm sure you are excited too, which makes sense, because the news is pretty cool.

The real estate investment trust recently disclosed that they are planning to offer an initial IPO, estimated at $800 million. I must say that this is pretty awesome, especially in the current economic climate.

The economy, which may need some more life support from the Federal Government, has not been affecting commercial real estate as heavily as other sectors. Investing in some REITs is probably a very good idea.

The trust, which owns a portfolio of “94 consolidated properties and holds equity interests in five additional properties through unconsolidated joint ventures,” is looking to list its shares on the New York Stock Exchange under the symbol MPT.

According to Bloomberg, “the properties are primarily located in suburban Philadelphia, New York, New Jersey, Baltimore and Washington D.C.”

So, they're all in a fairly close proximity, just in case you wanted to check some of them out in person rather than looking at pictures. Trust me, pictures can be deceiving, just like those photos of that “hottie” that sent you a friend request on Facebook. But maybe you don't care about that?

“The joint book-running managers for the proposed offering are BofA Merrill Lynch, Goldman, Sachs & Co. (GS), J.P. Morgan Securities LLC (JPM) and Morgan Stanley (MS).” A good offering, backed up with some good managers, definitely seems like a good deal.

So, if you're interested, check out Morgan Properties Trust. In a down economy, investing in commercial real estate seems to be the best way to go.

Oh, and don't forget about Shark Week! It will not disappoint, and at the very least will freak you out before your mid-august vacation to the beach.

What do you think about the proposed Morgan Properties Trust IPO? What about Shark Week?

Source article from Bloomberg

#CRE #economy #finance