The Lemon Fool

Just been notified that the the proposed IPO of the UK Residential REIT plc has been cancelled
The notice read: "Despite strong retail investor support demand has not been sufficient to meet the minimum gross proceeds set out in the Prospectus."
Punters seem happy to pile in to any old trash on PrimaryBid but baulk at more susbtantive IPOs
Thoughts anyone?
PS I'm a REIT newbie consideting shifting a chunk of my portfolio into solid REITS

I purchased some Urban Logistics at their recent discounted fund raise, based on what seems a good track record, a plausible growth story and disciplined strategy. Bit of a punt on whether they spend the extra cash wisely but they seem well positioned

I wondered how that might go. It's basically BTL in all but name.

I expected that it would have more costs associated with it that the more traditional Reits.

Dealing with hundreds of tenants, individual housing issues and short notice periods. I suspect that this would be farmed off to some agencies along with the repairs etc, again at a cost. How much would be left over?

I was going to watch it a while to see how it did.

I'd also second RGL and I think SREI have also proven to be good managers. I just recently purchased Epic, monthly dividend currently on a discount. I was trying to get Town but the spread is a bit of a killer at the moment although they were buying back their own shares