Deal Details
NETSTREIT Completes $209 Million Follow-On Offering
Summary
NETSTREIT Corp. (“NETSTREIT” or the “Company”) (NYSE: NTST) completed an upsized follow-on offering of 10,3500,000 shares of common stock at a price of $20.20 per share, generating gross proceeds of approximately $209.07 million. The Company expects to contribute the net proceeds to its operating partnership in exchange for Class A limited partnership units in the operating partnership, and the operating partnership intends to use the net proceeds for general corporate purposes, which may include acquisitions of properties in the Company’s pipeline.
Baird served as a co-manager on this offering.
About
NETSTREIT is a net lease retail real estate investment trust that acquires, owns, and manages a diversified portfolio of single-tenant net lease retail properties with high-credit quality tenants across the United States. The Company actively tries to source projects with tenants that are: 1) defensive in necessity-based and e-commerce-resistant industries, 2) investment-grade credit rated and other high-quality tenants with durable cash flows, 3) granular assets in highly fragmented, undercapitalized market segments, and/or 4) long lease terms benefiting from contractual rent growth. NETSTREIT is headquartered in Dallas, Texas.CONTACT US TO LEARN MORE
- Date
- August 2022
- Company
- NETSTREIT Corp.
- Transaction
- Equity Capital Markets
- Sectors
- Real Estate
- Verticals
-
Real Estate
- Target Geography
- North America
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