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Rich Uncles, a nontraded REIT linked to CBRE's Wirta, promises to minimize broker fees

Jul 17, 2015 - SNL Real Estate Daily

A nontraded REIT sponsor part-owned by CBRE Group Inc. Chairman Ray Wirta filed July 15 for a best-efforts offering, claiming in a filing that it will employ an Internet-based "alternate distribution channel" to avoid most of the fees and costs generally associated with nontraded REIT investments.

The company, Rich Uncles REIT Inc., intends to invest in single-tenant income-producing corporate properties and qualify for REIT status in the 2015 fiscal year.

The company said in a Form ...