“If you look at real estate markets around the world, the idea of public real estate companies has disappeared to a large extent…Everybody’s converted into REITs, in large part because of tax efficiency, but also because it gives you access to a broader universe of investors.”

-John Pagano, chief executive of Red Sea Global, in an interview in Dubai. Pagano said that RSG is considering a possible public market offering as soon as 2026. [Bloomberg]