REIT Legal Expert Sees Challenging IPO Market

The REIT market has seen just a single initial public offering (IPO) this year, and signs are pointing to a dearth of activity for the remainder of 2019, according to Justin Salon, REIT practice co-chair at law firm Morrison & Foerster LLP.

“Typically, you have a handful. To have just one as we sit here almost at June is certainly a downturn in the market,” Salon said. While Morrison & Foerster currently has two IPOs in registration, generally “we’re not seeing a whole lot…we may see a couple this year,” he added.