Care Investment Trust, a recently formed REIT externally managed by CIT Group (NYSE: CIT) that invests in healthcare mortgage debt and real estate, cut the proposed number of shares offered in its IPO from 18.75 million to 15 million on Thursday. In its SEC filling, Care reiterated its proposed price range of $15 to $17. The deal, which is being joint book run by Credit Suisse and Merrill Lynch, is now expected to price Thursday night as compared to its original timetable of Wednesday night.
