BB&T Capital Markets Serves as an Agent on STAG Industrial, Inc.’s At-the-Market Offering
BB&T Capital Markets’ Real Estate Group is participating in a transaction for a real estate investment trust, helping to raise up to $300,000,000 for our client.
The Company intends to use the net proceeds to fund acquisitions, to repay indebtedness, including amounts outstanding under the company's credit facility, for working capital and other general corporate purposes, or a combination of the foregoing.
About the Companies
STAG Industrial, Inc. (“STAG” or “The Company”) is a real estate investment trust (REIT) focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. As of December 31, 2016, STAG owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment. As of December 31, 2016, STAG’s buildings were approximately 94.7% leased to 275 tenants, with no single tenant accounting for more than approximately 3.1% of the total annualized base rental revenue and no single industry accounting for more than approximately 13.6% of the total annualized base rental revenue.
The BB&T Capital Markets Real Estate Group is led by an experienced banking team focused on serving the broad needs of Real Estate Investment Trusts (REITs) and private real estate sponsors. Our corporate and investment bankers are experts in all aspects of REITs and commercial real estate, allowing us to provide a comprehensive suite of capital markets solutions ranging from corporate lending, equity and debt underwriting, joint venture equity placements, and merger and acquisition advisory. This unique teaming enables us to serve clients with financing options that are optimized for their specific needs and strategic initiatives.
Core services include at-the-market (ATM) offerings, entity-level recapitalizations, follow-on equity offerings, initial public offerings, joint venture equity, merger and acquisition (M&A) advisory, preferred stock offerings, sale leasebacks, senior debt offerings, and stock repurchase programs.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.