The planned IPO was first revealed late last year when the company announced it had raised $160 million in a private placement of 16 million shares of its common stock with institutional investors and accredited investors. "NNN Realty Advisors plans to register as a public company and will seek to become listed on the New York Stock Exchange by the fourth quarter of 2007," the company said.

The private placement followed a deal in September wherein Wachovia Bank would provide billions of dollars in financing for Triple Net deals in exchange for a share of the profits. In addition to providing financing for the company's TIC deals, the Wachovia arrangement provided financing for Triple Net's non-traded REITs, which include a new $1-billion apartment REIT called NNN Apartment REIT and another called NNN Healthcare/Office REIT Inc. NNN Realty Advisors also manages other non-traded REITS, among them G-REIT and T-REIT, as well as co-investment programs. The company also is in the process of marketing Strategic Office Fund I, L.P., an institutional real estate fund to raise $500 million in equity capital pursuant to which we would co-invest with institutional investors. Wachovia Securities is the placement agent.

As of the end of 2006, NNN Realty Advisors provided management services for 32 million sf in 152 properties across the US. The types of properties include healthcare office, multi-family and retail. Since its inception in 1998, the company has raised over $2.4 billion of equity capital for its programs from approximately 24,000 investors. In 2006, the company generated pro forma revenue of $135.4 million, pro forma income from continuing operations of $10.6 million, and pro forma basic and diluted earnings per share of our common stock of $0.25.