Apartment REIT Bluerock Residential REIT sets terms for $50 million IPO

By Renaissance Capital,

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Bluerock Residential Growth REIT, which owns nine apartment properties in the Southeastern US, announced terms for its IPO on Thursday. The New York, NY-based company plans to raise $50 million by offering 3.3 million shares at $15 per share. At the midpoint of the proposed range, Bluerock Residential Growth REIT would command a fully diluted market value of $81 million.

Bluerock Residential Growth REIT, which was founded in 2008 and booked $22 million in sales for the 12 months ended December 31, 2013, plans to list on the NYSE under the symbol BRG. Wunderlich Securities is the sole bookrunner on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: BRG

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