Investors Cap Raises $3MM to Launch REIT

Investors Capital Corp., the wholly owned broker/dealer subsidiary of Investors Capital Holdings Ltd., Lynnfield, Mass., has raised the $3 million minimum needed to launch Gen-Net Lease Income Trust Inc., a real estate investment trust.Investors Capital said the REIT, which will be managed by Genesis Financial Group Inc., Grosse Ile, Mich., will acquire single-tenant, stand-alone, net lease office properties, chiefly for creditworthy corporate and state and federal government tenants. Investors Capital, the lead underwriter, is heading a syndicate of broker/dealers working to reach a $25 million capital fund-raising maximum by the second quarter. The companies can be found on the Web at http://www.investorscapital.com and http://www.gennet.biz.