News
Inland Western Files For IPO
February 15, 2011
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| Oak Brook-based REIT Inland Western field for an IPO to raise up to $350M in stock shares yesterday, according to Reuters. (We snapped Inland's Mark Zaltoris, center, at REITWeek in Chicago back in June.) The filing didn't indicate how many shares would be released in the IPO. Inland Western's stock will be listed under IWSTon the NYSE. Citigroup, Deutsche Securities, Keybanc Capital Markets, and JP Morgan are underwriting the IPO. SNL Financial'sJason Lail tells us Inland Western has been operating as a non-traded REIT for about eight years and has built up a solid portfolio of36M SF in 37 states, so he doesn't anticipate going public to have much affect on the company, even though nine of the 10 IPOs in the last year have underperformed. "They've already started out on the right foot," Jason says. "I don't think it will make too big of a splash in the market." |
