PIMCO the largest bond fund plans to raise $600 million in an IPO for a real estate investment trust.
According to the SEC filing, the $600million raised from the IPO will be put to work to buy commercial and residential mortgage-backed securities, real estate-related assets and other financial assets.
PIMCO real estate investment trust, or REIT, will seek to list on the New York Stock Exchange under the ticker PIMR, according to the filing.
PIMCO REIT IPO Date & Price
In the filing, PIMCO did not give the IPO price or the date of the IPO. These will be communicated at a later date.
written by Constantine Njeru
\\ tags: Amp, Bond Fund, Estate Investment Trust, Financial Assets, Financial Investment, Ipo Price, Mortgage Backed Securities, New York Stock, New York Stock Exchange, Real Estate Investment, Real Estate Investment Trust, Reit, Residential Mortgage Backed Securities, York Stock Exchange
The US housing bubble may have burst but another US real estate boom fires on: Since 2000, U.S. farmland prices have risen by 58% after inflation, according to the FDIC. And since 2003, they’ve risen by over 10% annually.
Factors Driving Farmland Prices
Surging agriculture prices, a weak dollar, fear of financial assets and rising global demand for food have all contributed to this boom.
Us Farmland Prices 1999 – 2008
The average price of an acre of U.S. farmland more than doubled from $1030 in 1999 to $2350 in 2008, according to the U.S. Agriculture Department.
written by Constantine Njeru
\\ tags: Acre, Agriculture Department, Agriculture Prices, Farmland Prices, Fdic, Fear, Financial Assets, Fires, Global Demand, Housing Bubble, Inflation, Real Estate Boom, Statistics, Weak Dollar