It was a bloodshed for the recent IPO (Accordia Golf Trust) on its opening day of trading. The unit opened at $0.87, compared to the offer price of $0.97. It was an immediate 10.3% decline in capital for the unfortunate IPO investors.  The unit went down to as low as $0.80 before recovering to $0.85 at first day close and 12.4% lower than the offer price of $0.97. Currently, Accordia Golf Trust was at $0.825 (last Friday's close) and about 15% below its IPO offer price. The timing for IPOs is just not right now due to uncertainties caused by Ukraine and Gaza Strip crises, Argentina default, Ebola outbreak in Africa, looming increase in interest rates, etc. Accordia Golf Trust was only 0.7 times subscribed and because of poor investor sentiment, I expect Ireit Global highly to be the same. ......