| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| Palace REIT |
| 3535 Las Vegas Boulevad South, Las Vegas, NV 89109 * (702) 732-7102 |
| The company is a real estate investment trust (REIT). The company was formed to acquire office and industrial properties in selected markets in the United States. |
| Manager | Tier | Phone |
| Morgan Keegan & Company, Incorporated | Lead Manager | (901) 529-5357 |
| NASNTL: | PALR | Financial: | SIC 6798 | |
| Type of Shares: | Common Shares | Filing Date: | 3/12/98 | |
| U.S. Shares Filed: | 4,290,000 | Filing Range: | $14.00 - $16.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $64,350,000 | |
| Primary Shares: | 4,290,000 | Expenses: | $593,000 | |
| Secondary Shares: | 0 | Post-IPO Shares: | 4,846,572 |
| Issuer's Law Firm: | Liddell, Sapp, Zivley, Hill & LaBoon |
| Bank's Law Firm: | Hunton & Williams |
| Auditor: | Deloitte & Touche |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/97 | 12/31/97 | ||||
| Revenue: | $10.29 | Assets: | $32.07 | ||
| Net Income: | $2.01 | Curr Assets: | |||
| EPS: | $0.11 | Liabilities: | $21.26 | ||
| Prior EPS: | Curr Liab: | ||||
| Cash Flow/Oper: | $2.93 | Equity: | $10.81 | ||
| Cash Flow/Fin: | $0.33 | Cash: | $0.37 | ||
| Cash Flow/Inv: | -$3.03 | ||||
| Competition |
| Numerous real estate companies that operate in the Company's target metropolitan and suburban markets compete with the Company in developing and acquiring office and industrial properties and seeking tenants to occupy such properties. Such competition could adversely affect the Company's business. There are numerous commercial developers, real estate companies, REITs and major retailers that compete with the Company in seeking properties for acquisition and tenants for properties, many of which may have greater financial and other resources than the Company and may have substantially more operating experience than that of the Company, its officers and agents. |
| Business Plan |
| The Company's business objective is to provide attractive returns to shareholders, including growth of cash distributions and Common Share price appreciation. The Company intends to achieve this objective by pursuing integrated acquisition, internal growth and financing strategies. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to purchase certain of the Properties and for general corporate purposes. |