Premier Real estate Investment Corporation, the mutual fund formed to invest in commercial Bahamian properties, yesterday told The Tribune its offering had closed after raising more than the $8.3 million minimum.
Although declining to state how much the fund had raised, a Premier representative told The Tribune yesterday, “The fund has met its initial subscription requirement and is in the process of completing the legal prerequisites and applications for closing.”
As revealed in The Tribune yesterday, Premier had previously extended its offering period until May 23, after having to restructure the fund when John S. George, the Nassau-based retailer withdrew from the venture.
Source: Neil Hartnell, The Tribune
