Real Estate Trust Smashes IPO Record
Want to get a jump-start on upcoming deals? Meet the major players at one of our upcoming national events!
NYC office owner Paramount Group delivered yet another confirmation of the REIT hot streak by raising $2.29B in its IPO, the biggest ever debut for an American real estate investment trust. CEO Albert Behler's firm sold 131M shares at $17.50 share and easily eclipsed the previous REIT public offering record—$1.4B—set by Douglas Emmett in 2006, the Wall Street Journal reported. It was the 5th REIT to go public this year in a trend largely responsible for the S&P separating real estate from finance on its all-important market index.