In a sign of weak demand, specialty finance REIT Crystal River Capital priced 7.5 million shares (1.6 million shares less than originally expected) at $23, a 16% discount to its proposed $26-$29 range. Crystal River Capital is following the footsteps of competitors KKR Financial, Deerfield Triarc, Resource Capital and JER Investors, all of which went public within the last 13 months. Deutsche Bank Securities is the lead underwriter for the deal, and the stock is expected to commence trading under the ticker symbol "CRZ" on Friday.
