"If you look at the universe of non-traded REITs," says Curtis McWilliams, president of Macquarie CNL, Global Income Trust in Orlando, the 6.5% return is about average. Most similar REITs have a 6% to 7% distribution level, he says, at the same time pointing out that the trust has no assets yet. Macquarie CNL Global Income Trust became effective as a REIT, April 23.
The initial offering by the Macquarie CNL REIT was for $1.5 billion in common shares on April 26. CNL Securities Corp., a subsidiary of CNL Financial Group, Inc., will serve as the managing dealer.
Macquarie CNL Global Income Trust Inc. is planning to derive 40% of its commercial real estate investments, over the long run, from the US and 60% from non-US assets, says McWilliams.
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