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Investing

New Industrial Warehouse REIT IPO on the Way

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By Jon C. Ogg Updated Published
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O’Donnell Strategic Industrial REIT, Inc. is going to be the next public warehouse REIT.  The company has filed its S-11 and the SEC declared it effective as of August 15, 2011.

The public offering is set to be for up to $1.1 billion in common stock, including shares to be sold pursuant to its distribution reinvestment plan.

As far as a use of proceeds, the REIT intends to use the net proceeds from its offering to invest primarily in what it calls “high-quality, income-producing industrial warehouse properties that are net leased to credit worthy tenants and located in and around strategic geographic distribution hubs.”

The shares are being priced at $10.00 per share and will be made available through SC Distributors, LLC, the affiliated dealer manager to the offering and a FINRA member.

This sounds a lot like ProLogis (NYSE: PLD), except smaller.  ProLogis has a $13.2 billion market cap and at $28.80, its 52-week range is $22.97 to $37.46.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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