KPREIT eyes the hotel sector — plans to tap the capital markets again before year end

Kevin Richards, new CEO of Kingston Properties Ltd, also known as KPREIT, says the time is right for sustained growth in the real estate market.

He has expressed the wish, however, that Jamaica would look to implementing laws which will make it easier to run such entities as real estate investments trusts (REIT) profitably.

REITs are a form of indirect real estate investing, acquiring income-producing real estate (usually commercial real estate) and offering common shares in the real estate holdings to the public.

Kingston Properties has two whollyowned subsidiaries: Carlton Savannah REIT (St Lucia) Ltd, incorporated in St Lucia under the International Business Company Act; and Kingston Properties Miami LLC, incorporated in Florida under the Florida Limited Liability Company Act.

http://www.jamaicaobserver.com/business/KPREIT-eyes-the-hotel-sector—plans-to-tap-the-capital-markets-again-before-year-end_57636