Deal Details
Follow-On Offering
Summary
Baird served as a lead manager on this offering
About
AmREIT, Inc. (“AmREIT” or the “Company”) (NYSE: AMRE) recently completed a follow-on offering of 3,450,000 shares of common stock at a price of $18.25 per share, generating gross proceeds of approximately $63.0 million. AmREIT intends to use the net proceeds from the offering to repay borrowings outstanding under its unsecured revolving credit facility, to fund a portion of the purchase price for the acquisition of Woodlake Square from the Company's joint venture partner and two of its advised funds, to fund all or a portion of the acquisition of the fee simple interest in its Preston Royal East property and for general corporate purposes.AmREIT is a full service, vertically integrated and self-administered REIT that owns, operates, acquires and selectively develops and redevelops primarily neighborhood and community shopping centers located in high-traffic, densely populated, affluent areas with high barriers to entry. AmREIT’s shopping centers are often anchored by strong national and local retailers, including supermarket chains, drug stores and other necessity-based retailers. AmREIT is headquartered in Houston, Texas.
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- Date
- July 2013
- Company
- AmREIT, Inc.
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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