Baird served as a co-manager on this offering
AboutAgree Realty Corporation (“Agree” or the “Company”) (NYSE: ADC) recently completed a follow-on offering of 2,875,000 shares of common stock at a price of $39.75 per share, generating gross proceeds of approximately $114 million. The Company intends to use the net proceeds to repay credit facilities, to fund property acquisitions and development activity, for working capital and for general corporate purposes.
Agree is a fully-integrated, self-administered and self-managed REIT primarily engaged in the acquisition and development of retail properties net leased to industry leading tenants. As of March 31, 2016, its portfolio consisted of 291 properties located in 42 states and totalling approximately 5.2 million square feet of gross leasable area. Substantially all of Agree’s base rent is derived from national and large regional tenants, or parents thereof, with an investment grade credit rating. Agree is headquartered in Bloomfield Hills, Michigan.
For additional information about this transaction, please contact:
- May 2016
- Agree Realty Corporation
- Real Estate
- Target Location
- North America