Deal Details
Follow-On Offering
Summary
Baird served as co-lead manager on this offering.
About
Terreno Realty Corporation (the “Company”) (NYSE: TRNO) recently completed a follow-on offering of 8,050,000 shares of common stock at a price of $17.75 per share, generating gross proceeds of approximately $143 million. The Company intends to use the net proceeds from the offering for future acquisitions, repayment of its revolving credit facility, general corporate purposes, which may include the repayment of other indebtedness, or a combination of the foregoing.Terreno Realty Corporation acquires, owns and operates 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 invests in several types of industrial real estate, including warehouse/distribution, flex and trans-shipment. The Company targets functional buildings in infill locations that may be shared by multiple tenants and that cater to customer demand within the various submarkets in which it operates. As of March 31, 2014, the Company owned 99 properties consisting of 7.1 million square feet. Terreno Realty Corporation is headquartered in San Francisco, California.
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- Date
- May 2014
- Company
- Terreno Realty Corporation
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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