I actually read their IPO prospectus but decided that it was better to wait to buy (IPO price was $20). The general rule of thumb for "fund offerings" like this is to wait to buy until after the IPO because the lack of track record and start-up costs can cause the price to decline subsequent to the offering. Plus, I agree that it IPOed at a bad time generally for REITs and the market. I bought some back in Nov at $17.75 plus I got some nice dividends so I'm very happy with it so far. However, it is going to be the next earnings release that is going to help determine whether this goes higher or not. Since I already own ARR and trust their management, the investment made sense for me.