Pacific Investment Management Co., manager of the world’s largest mutual fund, plans to raise $600 million in an initial public offering for a real estate investment trust.
Pimco REIT Inc. will buy commercial and residential mortgage-backed securities, real estate-related assets and other financial assets, the Newport Beach, California-based company said today in a regulatory filing. The real estate investment trust, or REIT, will seek to list on the New York Stock Exchange under the ticker PIMR, according to the filing.
