Blind-Pool Offering

What does Blind-Pool Offering mean in American Law?

The definition of Blind-Pool Offering in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:

A real estate syndication offering in which, at the time of the offering, no specific properties are listed for acquisition, the potential investors being advised only of the criteria to be used in choosing properties. This is also sometimes called a “nonspecified-property offering.” The alternative technique in which the specific properties are described from the beginning, is called a “specified-property offering,” and when only one property is specified, it is a “single-property offering.”