Deal Details
NETSTREIT Completes $198.7 Million Follow-On Offering
Summary
NETSTREIT Corp. (“NETSTREIT” or the “Company”) (NYSE: NTST) recently completed an upsized follow-on offering (the “Offering”) of 11,040,000 shares of common stock, including the full exercise of the underwriters’ option to purchase 1,440,000 additional shares. The Offering priced at a public offering price of $18.00 per share, generating gross proceeds of approximately $198.7 million. The Company expects to contribute the net proceeds from the Offering to its operating partnership in exchange for Class A limited partnership units in the operating partnership, and the operating partnership intends to use the net proceeds for general corporate purposes, which may include the repayment of amounts outstanding from time to time under the Company’s revolving credit facility and funding of acquisitions of properties and development activities in the Company’s pipeline.
Baird served as a co-manager on this offering.
About
NETSTREIT Corp. is an internally managed real estate investment trust (REIT) that specializes in acquiring single-tenant net lease retail properties nationwide. The growing portfolio consists of high-quality properties leased to e-commerce resistant tenants with healthy balance sheets. Led by a management team of seasoned commercial real estate executives, NETSTREIT’s strategy is to create the highest quality net lease retail portfolio in the country with the goal of generating consistent cash flows and dividends for its investors. NETSTREIT is headquartered in Dallas, Texas.CONTACT US TO LEARN MORE
- Date
- January 2024
- Company
- NETSTREIT Corp.
- Transaction
- Equity Capital Markets
- Sectors
- Real Estate
- Verticals
-
Real Estate
- Target Geography
- North America
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