Deal Details
Follow-On Offering
Summary
Baird served as a lead manager on this offering
About
Terreno Realty Corporation (NYSE: TRNO) (“Terreno” or the “Company”) recently completed a follow-on offering of 5,750,000 common shares at a price of $16.60 per share, generating gross proceeds of approximately $95.5 million. Terreno intends to use the net proceeds from the offering for future acquisitions, repayment of amounts outstanding under the Company’s revolving credit facility, general corporate purposes, which may include the repayment of other indebtedness, or a combination of the foregoing.Terreno is an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore. The Company’s portfolio consists of a mix of core and value-added investments in infill locations, with no ground up development or complex joint ventures. The Company focuses on owning and acquiring functional and flexible assets in close proximity to transportation infrastructure that are generally suitable for multiple tenants. Terreno is headquartered in San Francisco, California.
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- Date
- February 2013
- Company
- Terreno Realty Corporation
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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