- July 13, 2021
- Posted by: Stratford Team
- Category: Business
A startup is attempting to create something that U.S. real-estate executives say doesn’t exist in their industry today: a public company that owns only one property.
The prospective property is a 146,000-square-foot Bay Area warehouse leased to Amazon.com LLC. The startup, ROX Financial LP, aims to use an initial public offering to create a real-estate investment trust that will acquire the Amazon facility. It then hopes to grow and own a collection of warehouses to serve the Seattle-based online giant, according to a June securities filing.
ROX Financial has applied to list the shares on the New York Stock Exchange’s Arca platform, an all-electronic exchange for exchange-traded funds and securities, public filings show.
It is offering 8,250,000 shares at $10 a share. That would value the startup at a tiny fraction of the $94 billion market capitalization of Prologis Inc., the largest industrial property…
