In addition, the REIT intends to invest in or originate preferred equity or mezzanine loans related to properties net leased to a single-tenant on a long-term basis. It may also invest in preferred equity or mezz debt on properties that are subject to short-term net leases or are multi-tenanted. Further, RGPT may invest in real estate CMBS or structured notes that are collateralized by pools of real estate debt instruments, often first mortgage loans, REIT debt, REIT preferred stock, REIT common shares or equity interests in private companies that own real estate assets.

RGPT says in its registration statement that “Our affiliation with Cantor provides us with unique insight and in-depth knowledge of global financial markets and local real estate dynamics.” Additionally, the new REIT's management believes that its advisor's affiliation with Newmark Grubb Knight Frank—the real estate services business of BGC Partners, which is also controlled by Cantor—will provide RGPT with “access to potential investment opportunities, many of which we believe will not be available to our competitors.”

In a separate development, private equity giant KKR is also trying its hand in the REIT IPO space, with a specific focus on debt. CoStar Group reported on Tuesday that KKR is planning to file with the SEC to raise up to $100 million for KKR Real Estate Finance Trust, a mortgage REIT that was launched in 2014.

Hear the latest on Net Lease at RealShare's event on April 5-6 in New York City at the Essex House. Learn more here.

Cantor Fitzgerald

NEW YORK CITY—With the net lease industry convening Thursday morning at the JW Marriott Essex House for RealShare Net Lease comes word that players in the space will soon have company. Cantor Fitzgerald said earlier this week that a registration statement for its Rodin Global Property Trust, which will invest in single-tenant net lease in the US and Europe, had been declared effective by the Securities & Exchange Commission.

RGPT is offering up to $1 billion of shares of common stock in its primary offering, consisting of three share classes: Class A common shares at an initial price of $26.32 per share; Class T common shares at an initial price of $25.51 per share; and Class I common shares at an initial price of $25.00 per share. The public non-traded REIT is also offering an additional $250 million of shares of common stock under its distribution reinvestment plan at an initial price of $25.00 per share.

The new entity, which will be led by Cantor chairman and CEO Howard Lutnick, has been organized as an UPREIT. RGPT plans to own substantially all of its assets and conduct operations, directly or indirectly, through an operating partnership known as Rodin Global Property Trust Operating Partnership LP. Its advisor is Rodin Global Property Advisors LLC, a Delaware limited liability company and wholly-owned subsidiary of sponsor Cantor Fitzgerald Investors LLC.

Although much of RGPT's investment focus will be on properties net leased on a long-term basis, it may also may also acquire properties that are subject to short-term net leases or are multi-tenanted. Properties will be purchased directly or through a joint venture ownership structure.

In addition, the REIT intends to invest in or originate preferred equity or mezzanine loans related to properties net leased to a single-tenant on a long-term basis. It may also invest in preferred equity or mezz debt on properties that are subject to short-term net leases or are multi-tenanted. Further, RGPT may invest in real estate CMBS or structured notes that are collateralized by pools of real estate debt instruments, often first mortgage loans, REIT debt, REIT preferred stock, REIT common shares or equity interests in private companies that own real estate assets.

RGPT says in its registration statement that “Our affiliation with Cantor provides us with unique insight and in-depth knowledge of global financial markets and local real estate dynamics.” Additionally, the new REIT's management believes that its advisor's affiliation with Newmark Grubb Knight Frank—the real estate services business of BGC Partners, which is also controlled by Cantor—will provide RGPT with “access to potential investment opportunities, many of which we believe will not be available to our competitors.”

In a separate development, private equity giant KKR is also trying its hand in the REIT IPO space, with a specific focus on debt. CoStar Group reported on Tuesday that KKR is planning to file with the SEC to raise up to $100 million for KKR Real Estate Finance Trust, a mortgage REIT that was launched in 2014.

Hear the latest on Net Lease at RealShare's event on April 5-6 in New York City at the Essex House. Learn more here.