CG Carlyle Group Inc

By Josh Beckerman

Four Springs Capital Trust moved closer to an initial public offering, more than four years after it pursued and dropped a planned IPO.

The Lake Como, N.J., real-estate investment trust is offering 18 million shares, with an expected price between $13 and $15.

Four Springs filed to go public in 2017. According to a 2017 S&P Global Market Intelligence article, the company withdrew its filing due to market conditions. It disclosed a Form S-11 in November following a confidential filing in August.

Carlyle Group Inc. said in May its Global Credit platform agreed to provide up to $300 million in growth capital to Four Springs. In January 2021, the REIT announced a $50 million investment from Goldman Sachs Group Inc.'s Vintage Funds.

Four Springs, which has industrial, medical, retail and office properties, had 2020 pro forma revenue of $72.8 million.

In March, when the REIT announced a deal for an Oklahoma distribution facility leased to an Amazon.com Inc. unit, it said last mile logistics trends have increased demand for industrial real estate.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

January 10, 2022 14:19 ET (19:19 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.