October 21, 2008 | Vol. 6 No. 20

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Volume 6 - Number 20 | October 21, 2008

TOP STORY: Cole To Raise Third REIT; Focus is on Single-Tenant Retail
By Michelle Napoli
Cole Real Estate Investments launches its third REIT, Cole Credit Property Trust III Inc. The 250-million-share offering will help fund acquisitions of net-lease retail assets and other single-tenant and multi-tenant income-producing properties.

Mervyns Opts to Liquidate, Shut Down
By Brian K. Miller
The store is gearing up for going-out-of business sales in time for the holiday season as it winds down operations at its 149 remaining stores.

Update: TNP Readies DST Program; Single-Tenant Assets Among Property Targets
By Michelle Napoli
Tony Thompson readies to launch the first investment in his company's new DST. Multifamily and single-tenant properties will be the main focus of the program.

IRS to Add QI-Related Language to Taxpayer Guidance
By Michelle Napoli
IRS' new language addition to its Publication 544 will help alert taxpayers to potential risks of QIs and provide information on other safe harbors that can be used in completing exchanges.

New ‘RockSolid’ QI Born From Hard-Learned Lessons
By Michelle Napoli
Peter Wunsch launches the new company in response to disgust over lack of regulation and oversight in the QI industry. The new company will hold exchange proceeds in safe money market accounts.

Data Points: Net Lease Retail Cap Rates Rise, For-Sale Listings Surge
Cap rates rise during Q3, while for-sale listings spike 24% from the previous quarter.

Short Takes: Two Banks Provide $80M Financing to STAG

Recent Transactions: JV Buys Four-Asset Portfolio for $139.1M

Ratings Update: Mixed Reviews of Walgreen After Longs Offer Withdrawn