REITs lean on unitholders for $1.7 bil of equity funding

In September, three REITs announced equity fund-raising plans which are likely to exceed $1.7 billion. All three made, or are in the process of making, interested- party transactions, that is, they bought or are buying properties from their sponsors. IREIT Global announced the purchase of the remaining stake of 60% in four Spanish office buildings it does not own from Tikehau Capital for EUR47.8 million ($76.4 million). Tikehau Capital is one of IREIT Global’s two sponsors, the other being City Developments.