Sandalwood Announces IPO

Sandalwood Lodging Investment Corp., Potomac, Md., has announced an initial public offering of 10 million shares of common stock at $20 per share.An additional 1 million shares are being offered for the real estate investment company's dividend reinvestment plan. The company says it intends to qualify as a real estate investment trust for federal income tax purposes. "In today's challenging financial markets, investors seeking to diversify their equity holdings should consider real estate investment trusts, an asset class which offers more predictable and higher dividends, superior risk-adjusted returns, and lower volatility than many other investment alternatives," said Bryan E. Gordon, Sandalwood's chairman and managing director. Emerald Bay Capital Management LLC is the managing underwriter of the IPO. The companies can be found online at http://www.sandalwoodlodging.com and http://www.emeraldbaycapital.com.