This is big news in Orange County Real Estate, and Nationwide. NNN Realty Advisors (parent of Triple Net Properties) will go public sometime in late 2007.
Triple Net Properties made popular the TIC (tenant in common) investment method combined with 1031 exchanges and owns a big share of that market. By going public, it seems as if the transparency will give credibility to the investing style and separate them from the competition.
So not only is it big real estate news, it will be a sizable IPO for an OC company.
In other real estate news, Edgeio decided to buy into the real estate listings market instead fight the uphill battle like Zillow. Not too bad of an idea, except I doubt real estate listings will ever generate enough ad revenue.