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Strategies & Market Trends : Capital Automotive REIT (CARS).
CARS 10.74+1.2%Oct 31 9:30 AM EST
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To: Paul Lee who wrote (4)2/15/1998 9:05:00 AM
From: mod  Read Replies (1) of 46
 
I flipped it for 2 reasons. First, my broker wanted it back, and I usually accommodate them if I can, figuring it might help on future IPOs. I have heard the offering was 8x oversubscribed. Second, I still own some indirectly through an investment I made in FBR Asset Investment Corp, which bought 1.8 million of the CARS shares at the offering price less the underwriting discount. They cannot sell their shares for at least one year.

I agree, it looks like a good long-term investment. Should appeal to lots of auto dealership owners who think they are in the business of selling cars, not owning land.

Dennis
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