Deal Details
INDUS Completes $105 Million Follow-On Offering
Summary
INDUS Realty Trust, Inc. (“INDUS” or the “Company”) (NASDAQ: INDT) recently completed a follow-on offering of 1,750,000 shares of common stock at a price of $60.00 per share, generating gross proceeds of approximately $105.0 million. The Company intends to use the proceeds to finance its development pipeline and acquisitions and for other corporate purposes.
Baird served as a bookrunner on this offering.
About
INDUS Realty Trust, Inc. is a real estate investment trust (“REIT”), principally engaged in developing, acquiring, managing and leasing high-quality industrial and logistics properties in select supply-constrained markets in the United States. On December 31, 2020, the Company changed its name to INDUS Realty Trust, Inc. after its reincorporation from Delaware to Maryland and its decision to elect REIT status. Prior to December 31, 2020, INDUS was known as Griffin Industrial Realty, Inc. The Company’s real estate holdings consist primarily of industrial/logistics properties, which accounted for 91.5% of its square footage as of November 30, 2020. INDUS also owns a limited number of office/flex properties, which accounted for 8.5% of its square footage, in addition to approximately 3,400 acres of undeveloped land. INDUS is headquartered in New York, New York.CONTACT US TO LEARN MORE
- Date
- March 2021
- Company
- INDUS Realty Trust, Inc.
- Transaction
- Equity Capital Markets
- Sectors
- Real Estate
- Verticals
-
Real Estate
- Target Geography
- North America
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