Clearview REIT Scuttles Plans for IPO
From RenaissanceCapital.com:
Fourth REIT to Withdraw IPO This Month
Clearview Hotel Trust, a newly formed REIT with an initial portfolio of 14 branded Marriott and Hilton hotels, withdrew its plans for an initial public offering on Friday. The Newport Beach, CA-based company, which booked $143 million in pro forma sales last year, had expected to raise as much as $375 million in its IPO. BofA Merrill Lynch, Citi, Deutsche Bank Securities and UBS Investment Bank were set to be the lead underwriters on the deal. Click here for the full story.
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