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Bridging the bay. (Tampa Bay Area, Florida)
Still waiting
The Hogan Group in Tampa is still plugging away at its real estate investment trust, but don't expect the offering to happen anytime this year.
"It's going in the right direction, but I can't say when it will be completed," said Mike Hogan, principal of the leasing and property management company that bears his name.
Hogan has been working on the REIT for about two years now, but the trust still is only about two-thirds complete, he said.
That may be because unlike many REITs hitting the market these days, his will be an acquisition REIT, he said. Properties must be acquired and placed into the trust, meaning these kinds of REITs often take more time to assemble.
When the offering does happen, Hogan said, it will be in the $500-million to $600-million range.
The Hogan Group was founded in 1986. …
