Desert Capital REIT, Inc. Announces Commencement of $225 Million Common Stock Offering
March 27, 2006 Business News(PRLEAP.COM) HENDERSON, Nev., (March 27, 2006) —- Desert Capital REIT, Inc. today announced it has commenced a public offering of up to 15 million shares of its common stock, at a price to the public of $15.00 per share. The shares are being offered on a “best efforts” basis through broker-dealers registered with the National Association of Securities Dealers, Inc. Desert Capital intends to use the net proceeds of the offering to make investments in mortgage loans.
This is the second public offering by Desert Capital REIT. The first offering closed on March 24.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. A written prospectus meeting the requirements of the Securities Act of 1933, as amended, may be obtained from CMC Financial Services, Inc., the dealer-manager of the offering, at 1291 Galleria Drive, Suite 210, Henderson, NV 89014.
Desert Capital REIT, Inc. is a Henderson, Nev.-based real estate investment trust that will invest in a diversified portfolio of mortgage loans, including acquisition and development, construction, commercial property and residential loans.
Statements included herein that state the company’s or management’s intentions, hopes, beliefs, expectations or predictions of the future are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 which by their nature, involve known and unknown risks and uncertainties. The company’s actual results, performance or achievements could differ materially from those expressed or implied by such statements.
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