Joy Wiltermuth is a reporter at IFR, where she writes about the securitisation market. In the past five years, she has written about new types of mortgage bond deals hatched since the financial crisis, litigation and regulation. She was previously a reporter for Debtwire in New York and also worked for Institutional Investor.
Shares of Postal Realty Trust, a landlord to the US Postal Service (USPS), clung to their US$17.00 IPO price in the first week of trading.
Pimco’s plan to create a mortgage REIT were thwarted once again last week after the fixed-income giant was unable to raise US$1bn through an IPO.
Pimco shelved plans on Tuesday to create a standalone publicly traded mortgage REIT, opting to postpone the US$1bn offering because of “unfavorable equity market conditions”.