REIT ZAIS Financial files for a $140 million IPO
ZAIS Financial, a REIT that invests in agency and non-agency RMBS, filed on Wednesday with the SEC to raise up to $140 million in an initial public offering. ZAIS Financial will be externally managed by ZAIS REIT Management, a subsidiary of ZAIS Group, a privately-held investment advisor with $5.5 billion of assets under management.
The Red Bank, NJ-based company, which commenced operations in 2011 and earned $8 million in net interest income in the last 12 months ended September 30, 2012, plans to list on the NYSE under the symbol ZFC. ZAIS Financial initially filed confidentially on November 19, 2012. Deutsche Bank, Citi, Barclays and Credit Suisse are the joint bookrunners on the deal. No pricing terms were disclosed.