Diversified retail REIT NetSTREIT files for a $100 million IPO
NetSTREIT, a diversified retail REIT focused on the central United States, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
NetSTREIT's portfolio includes 163 single-tenant retail net leased properties spanning 34 states and its tenants include brands such as 7Eleven, CVS, Walgreens, Lowe's, Walmart, Home Depot, and Kohl's.
The Dallas, TX-based company was founded in 2019 and booked $20 million in revenue for the 12 months ended March 31, 2020. It plans to list on the NYSE under the symbol NTST. Wells Fargo Securities, BofA Securities, Citi, Stifel and Jefferies are the joint bookrunners on the deal. No pricing terms were disclosed.
The article Diversified retail REIT NetSTREIT files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.