BGO Industrial Real Estate Income Trust Inc., a non-traded REIT sponsored by global institutional investment management firm BentallGreenOak, announced its registration statement on Form S-11 in connection with its initial public offering of common stock has been declared effective by the Securities and Exchange Commission.
BGO IREIT is offering on a continuous basis up to $5 billion in shares of its Class S, T, D and I common stock, consisting of up to $4 billion of shares in the primary offering and up to $1 billion of shares pursuant to a distribution reinvestment plan. Shares are being distributed exclusively via financial advisors, marking BGO’s entry into the retail investment channel.
BGO IREIT “was formed to be a pure-play industrial real estate investment trust” investing primarily in industrial warehouse and logistics properties located in the United States. To a lesser extent, BGO IREIT says the company will also invest in real estate-related assets, including real estate debt and real estate-related securities.
BGO IREIT intends to invest primarily in industrial warehouse and logistics properties “selected for their location, functionality, and potential cash flow characteristics, as well as their stability and their generally low maintenance and capital improvement costs.” According to BGO IREIT, these properties will primarily consist of institutional-quality, modern bulk distribution warehouses, light industrial buildings, last-mile distribution facilities, temperature-controlled logistics properties and logistics chain properties.
The company says that the purchase price per share for each class of BGO IREIT’s common stock will vary and will generally equal its prior month’s net asset value per share for such class, as determined monthly, plus any applicable upfront selling commissions and dealer manager fees.
BGO IREIT is sponsored by BGO, a global real estate investment management advisor and a provider of real estate services, with a track record in the investment and asset management of industrial, office, retail and multi-family property globally. BGO IREIT will be externally advised by its affiliate, BentallGreenOak (U.S.) Limited Partnership.