Dividend Capital, a sponsor of non-traded real estate investment trusts, recently launched Logistics Property Trust Inc., a $2 billion non-traded REIT that focuses on high-quality distribution warehouses and other industrial properties. The company expects to meet its minimum offering by the end of the year.
Logistics Property Trust is offering up to $1.5 billion in shares of common stock in its primary offering, and up to $500 million in DRIP shares. Two classes of shares of common stock will be available, class A shares and class T shares.
Class A shares, which will be sold for $10.00 each, have a selling commission of 7 percent, a dealer manager fee of 2.5 percent, and no distribution fee.
Class T shares will be sold for $9.42 and have a selling commission of 2 percent, a dealer manager fee of 2 percent, and a 1 percent distribution fee. In addition, financial advisors will receive a 1 percent trailing annual commission.
Class A DRIP shares are priced at $9.50 each, while class T DRIP shares are $9.42 each.
If $2 million in shares of common stock is not sold before February 18, 2017, the offering will terminate and the funds will be returned. The minimum to invest is $2,000.
The REIT will be externally managed by Logistics Property Advisors, and Dividend Capital Securities will serve as its dealer manager.
Dividend Capital Group is a full-service investment company focused on developing and managing real estate products. Dividend Capital offers a variety of real estate investment options for individual and institutional investors, and has experience in the public and private real estate sectors — as investors, operators and financiers.