Interesting news from the New York Real Estate world recently:
United Realty is also raising a targeted $1.3 billion non-traded real estate investment trust, according to filing with the U.S. Securities and Exchange Commission. Jacob Frydman declined to discuss the REIT. The SEC filing, however, stated that United Realty Trust will focus on acquisitions on the East Coast and other markets that will benefit from demographic changes. It will seek acquisitions in the office, industrial, retail and hospitality sectors as well as single-tenant and multifamily properties. About 20% of its investments will be in real estate loans and securities.
We’ll be watching this new endeavor with interest.