LoanCore Realty Trust, a commercial mortgage REIT backed by Jefferies and GIC, withdrew its plans for an initial public offering on Thursday. It had filed to raise $300 million by offering 15 million shares at a price of $20, but postponed its IPO in June 2015, citing poor market conditions.
The Greenwich, CT-based company was founded in 2013 and booked $7 million in revenue for the 12 months ended March 31, 2015. It had planned to list on the NYSE under the symbol LCRT. Deutsche Bank, J.P. Morgan, Morgan Stanley, BofA Merrill Lynch and Jefferies were set to be the joint bookrunners on the deal.
