Baird served as a senior co-manager on this offering
AboutAgree Realty Corporation (“Agree” or the “Company”) (NYSE: ADC) recently completed a follow-on offering of 2,087,250 shares of common stock at a price of $47.50 per share, generating gross proceeds of approximately $99 million. The Company intends to use the net proceeds of this offering to reduce amounts outstanding under its existing unsecured revolving credit facility, 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 September 30, 2016, its portfolio consisted of 341 properties located in 43 states and totaling approximately 6.7 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 located in Bloomfield Hills, Michigan.
For additional information about this transaction, please contact:
- October 2016
- Agree Realty Corporation
- Real Estate
- Target Location
- North America