BB&T Capital Markets Serves as a Co-Manager on Alexandria Real Estate Equities, Inc.’s Follow-On Offering
BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2018, helping to raise a total of $852,150,000 for our client.
The Company intends to use the net proceeds to be received upon full physical settlement of the forward sale agreement to fund pending acquisitions and current development projects, with any remaining proceeds being used for general corporate purposes. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 900,000 shares.
About the Companies
Alexandria Real Estate Equities, Inc. (“ARE” or the “Company”) is an urban office real estate investment trust ("REIT") uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $16.1 billion and an asset base in North America of 28.6 million square feet, as of September 30, 2017. The asset base in North America includes 20.6 million RSF of operating properties, including 1.5 million RSF of development and redevelopment of new Class A properties currently undergoing construction. Additionally, the asset base in North America includes 8.0 million SF of future development projects, including 1.1 million SF of near-term projects undergoing marketing for lease and pre-construction activities and 3.3 million SF of intermediate-term development projects.
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.