BB&T Capital Markets Serves as a Joint Lead Manager on Government Properties Income Trust’s Follow-On Offering
BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the second quarter of 2017, helping to raise a total of $516,280,037 for our client.
The Company intends to use the net proceeds to help fund the Company’s planned acquisition of First Potomac Realty Trust. GOV may also elect to use the proceeds to repay amounts outstanding under its unsecured revolving credit facility or to fund short-term investments, pending the closing of the all-cash deal with First Potomac. Total gross proceeds includes the partial exercise of the underwriters’ over-allotment option, through which they purchased an additional 2,907,029 shares.
About the Companies
Government Properties Income Trust (“GOV” or the “Company”) is a real estate investment trust, or REIT, which primarily owns properties located throughout the United States that are majority leased to the U.S. Government and other government tenants. GOV is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.
Our Real Estate Group is led by an experienced banking team focused on serving the broad needs of the Real Estate Investment Trust (REIT), commercial real estate and hospitality sectors. Through our extensive industry connections and in-house retail and institutional distribution capabilities, our clients gain access to the broadest markets—as well as the balance sheet strength and resources of one of the nation's strongest financial institutions.
Our corporate and investment bankers are experts in all aspects of the commercial real estate sector and provide a comprehensive suite of capital markets solutions ranging from corporate lending, equity and debt underwriting and merger and acquisition advisory. This unique teaming enables us to serve clients with financing options that are optimized for their specific needs, and each stage of their development.
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.