IPOs

Real estate investor Bridge Investment Group prices IPO at $16 midpoint

Bridge Investment Group, a vertically-integrated real estate investment manager with $26 billion in AUM, raised $300 million by offering 18.8 million shares at $16, the midpoint of the $15 to $17 range. At pricing, Bridge commands a market value of $1.8 billion.

Bridge Investment Group is diversified across specialized real estate asset classes, including multifamily, debt, office, development, workforce, agency MBS, and seniors. Its vertically-integrated approach includes investment professionals as well as employees who perform active asset management, property management, leasing, and construction management functions.

The Salt Lake City, UT-based company plans to list on the NYSE under the symbol BRDG. Morgan Stanley, J.P. Morgan, Citi, Wells Fargo Securities, and UBS Investment Bank acted as joint bookrunners on the deal.

The article Real estate investor Bridge Investment Group prices IPO at $16 midpoint 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.

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