BB&T Capital Markets Serves as an Agent on National Retail Properties, 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 $450,000,000 for our client.
The Company intends to use net proceeds from this offering to repay outstanding indebtedness under its credit facility, to fund potential property acquisitions or for other general corporate purposes.
About the Companies
National Retail Properties (“NNN” or the “Company”) invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2017, NNN owned 2,764 properties in 48 states with an aggregate gross leasable area of approximately 29.1 million square feet and a weighted average remaining lease term of 11.5 years. Approximately 99% of their properties were leased as of December 31, 2017.
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.