Secondary Market Moves: Non-Traded REIT Auctioneer CTT Buys APB
- Jan 14, 2015
Barbra Murray, Contributing Editor
Central Trade & Transfer, an online auction site for non-traded REITs, has significantly inflated its presence in the online secondary-market transactions business in one fell swoop with the acquisition of the assets of its competitor, American Partnership Board.
“As the primary market for non-traded REITs continues to grow, we believe the secondary market will be a much needed tool for investors,” Taylor Garrett, managing director, CTT told Commercial Property Executive. “The joining together of the market’s two largest firms will allow us to connect more buyers and sellers together under one roof in the manner we desire.”
Both companies have a notable presence. Together, CTT and APB’s activities accounted for approximately 65 percent of all secondary market trades by dollar value in the fourth quarter of 2014.
With the two companies now operating as one under the CTT umbrella, investors in non-traded REITs–a market valued at $85 billion–will get a more centralized secondary market, with liquidity and more competitive pricing. The platform is simple, yet progressive: sellers of illiquid investments have access to a world of competitive bidders; and both sellers and buyers benefit from real time feedback that provides a high level of transparency.
In a prepared statement, Garrett added, “CTT’s acquisition of APB allows us to serve investors in non-traded REITs and other non-listed securities even more effectively, providing a proven, time-sensitive liquidity option.”