Welsh Property Trust, Inc. (WLS) said on Thursday that it withdrew plans for its initial public offering, citing unfavorable market conditions as the primary factor in their decision to withdraw their registration statement.
In an offensive move to take advantage of commercial real estate acquisition opportunities, Welsh Property Trust filed a registration statement for a proposed initial public offering on March 3, 2010. The strategy was employed in an effort to source lower-priced capital to finance the purchase of additional real estate.
Welsh will continue to own and operate commercial real estate, while providing the gamut of commercial real estate services to third-party clients, as they have for the past 33-years. The company will continue to evaluate their options related to the purchase of additional real estate.
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