NNN Realty sells $160 million in stock

NNN Realty Advisors Inc. sold $160 million in stock to large investors as part of its plan to take the company public, the Santa Ana firm said.

NNN Realty Advisors is the parent company of Triple Net Properties and Triple Net Properties Realty Inc. The businesses are known for sponsoring real estate trades covered by Section 1031 of the federal tax code that defer capital gains taxes.

The company will seek to be listed on the New York Stock Exchange by late 2007.