Dream Residential REIT breaks the ice on Canada's frozen IPO market

IPO proceeds in the U.S. have fallen for five straight months and April saw the lowest total since 2017, according to Bloomberg data. Miller said the busy IPO market of the past two years has left fewer private companies that are ready or willing to go public today.Article content

“In much of 2020 and all of ’21, the market was, most of the time, open,” he said. “We do have some very attractive IPO candidates in the pipeline, but it’s dramatically fewer than last year.” Dream Residential is taking advantage of a relatively strong market for apartments as U.S. rents soar. In February, a measure of rents posted the largest monthly increase in more than 30 years.

Properties in Ohio, Texas and Oklahoma will represent more than 90 per cent of Dream Residential’s forecast net operating income, though the prospectus shows the company plans to seek out acquisitions “across high-growth markets.” TD Securities Inc. is the lead underwriter on the IPO.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Housing market slowing rapidly amid interest rate hikesWatch: Realosophy Realty president John Pasalis talks about the impact of higher interest rates on Canada\u0027s real estate market financialpost It is incredible that everyone forgets: If you buy into bubbles you are screwed.
Source: VancouverSun - 🏆 49. / 61 Read more »

Housing market slowing rapidly amid interest rate hikesWatch: Realosophy Realty president John Pasalis talks about the impact of higher interest rates on Canada\u0027s real estate market financialpost Weird apparent B.S. attempt to 'talk up the mkt' earlier in April, w/news articles focused on Royal Lepage trumpeting another bang-up Q1 &predicting double digit price gains in 2022.But neglected to mention Q1 included March when av. HOUSE PRICE FELL, as int. rates chilled mkt. financialpost higher interest rates that would not occur for a L O N G time. Do we have to assume its all lies? financialpost I think people have to change the way they think about housing. There are better ways to invest your money, especially now that the market is topping out. Wait for a year or two before considering a purchase.
Source: nationalpost - 🏆 10. / 80 Read more »