• BB&T Capital Markets has committed more than $3.5 billion to the REIT sector through 2014, making it one of our fastest growing industry verticals.

Real Estate Group

The BB&T Capital Markets Real Estate Group is led by an experienced banking team focused on serving the broad needs of Real Estate Investment Trusts (REITs) and private real estate sponsors. Our corporate and investment bankers are experts in all aspects of REITs and commercial real estate, allowing us to provide a comprehensive suite of capital markets solutions ranging from corporate lending, equity and debt underwriting, joint venture equity placements, and merger and acquisition advisory. This unique teaming enables us to serve clients with financing options that are optimized for their specific needs and strategic initiatives.

Core services include:

  • At-the-market (ATM) offerings
  • Entity-level recapitalizations
  • Follow-on equity offerings
  • Initial public offerings
  • Joint venture equity
  • Merger and acquisition (M&A) advisory
  • Preferred stock offerings
  • Sale leasebacks
  • Senior debt offerings
  • Stock repurchase programs
 

Our dedicated real estate team has executed more than 150 debt and equity REIT transactions totaling $50 billion since 2012

  • Tremont Mortgage Trust (Nasdaq: TRMT)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $50,000,000 for our client.

    The Company plans to use all the proceeds of this offering to make investments in accordance with its objectives and strategies. Prior to the time it has fully used the proceeds of this offering to make investments in its target investments, it may fund some or all of its quarterly distributions out of the proceeds of this offering. The underwriters have a 30-day option to purchase an additional 375,000 shares to cover over-allotments.

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  • Global Medical REIT Inc. (NYSE: GMRE)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $77,625,000 for our client.

    The Company intends to use the net proceeds from this offering for general corporate purposes, including funding new acquisitions and repaying indebtedness. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 405,000 shares.

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  • Pennsylvania Real Estate Investment Trust (NYSE: PEI)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $120,000,000 for our client.

    The Company intends to use the net proceeds from this offering to fully redeem its outstanding series A preferred shares with an aggregate liquidation preference of about $115.0 million, with any remaining proceeds to go toward general corporate purposes. The underwriters have a 30 day option to purchase an additional 720,000 shares to cover over-allotments.

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  • National Retail Properties Inc. (NYSE: NNN)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $400,000,000 for our client.

    The Company intends to use the net proceeds from this offering to repay all of the outstanding debt under the Company's credit facility. Any remaining funds will go toward future property acquisitions and for general corporate purposes.

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  • CBL & Associates Properties, Inc. (NYSE: CBL)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $225,000,000 for our client.

    The Company intends to use the net proceeds from this offering to reduce amounts outstanding under CBL’s revolving credit facilities and for general corporate purposes.

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  • Alexandria Real Estate Equities, Inc. (NYSE: ARE)

    BB&T Capital Markets’ Real Estate Group is participating in a transaction for a real estate investment trust, helping to raise up to $750,000,000 for our client.

    The Company intends to initially use the net proceeds from this program for general working capital and corporate purposes, which may include reducing the outstanding balance on its unsecured senior line of credit, repaying other indebtedness, the selective development, redevelopment, or acquisition of properties, or the repurchase of its outstanding preferred stock.

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  • Cedar Realty Trust, Inc. (NYSE: CDR)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $75,000,000 for our client.

    The Company's operating partnership presently intends to use the net proceeds from this offering to partially redeem outstanding shares of its Series B preferred stock. Pending such use, the net proceeds will be used to temporarily repay amounts outstanding under the operating partnership’s credit facility. The underwriters have a 30 day option to purchase an additional 450,000 shares to cover over-allotments.

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  • Healthcare Realty Trust Incorporated (NYSE: HR)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise a total of $224,025,000 for our client.

    The Company intends to use the net proceeds of this offering to partially fund their acquisition of an Atlanta medical office portfolio. The Company intends to use the remaining proceeds to repay outstanding indebtedness and for general corporate purposes. The underwriters have a 30-day option to purchase an additional 1,087,500 shares to cover over-allotments.

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  • Kimco Realty Corporation (NYSE: KIM)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $225,000,000 for our client.

    The Company intends to use the net proceeds from this offering for general corporate purposes, including repayment of debt. The underwriters have a 30 day option to purchase an additional 1,350,000 shares to cover over-allotments.

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  • Digital Realty Trust, Inc. (NYSE: DLR)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $1,350,000,000 for our client.

    The Company intends to use the net proceeds from this offering to fund a portion of the repayment, redemption and/or discharge of DuPont Fabros Technology, Inc (“DFT”) debt and the payment of certain transaction fees and expenses incurred in connection with the DFT merger. Pending any net proceeds will be used to repay borrowings under its operating partnership’s global revolving credit facility, acquire additional properties or businesses, fund development opportunities and to provide for working capital and other general corporate purposes, including potentially for the repurchase, redemption or retirement of other outstanding debt or equity securities.

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  • Kimco Realty Corporation (NYSE: KIM)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $850,000,000 for our client.

    The Company intends to use the net proceeds from this offering to fund the consideration payable in its tender offer. The Company will use the excess net proceeds for general corporate purposes, including to partially reduce borrowings under its revolving credit facility maturing in March 2021.

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  • Equity Residential (NYSE: EQR)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $700,000,000 for our client.

    The Company intends to use proceeds from the offering for general corporate purposes and working capital, including repayment of debt.

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  • Community Healthcare Trust Incorporated (NYSE: CHCT)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise a total of $114,611,875 for our client.

    The Company intends to use the net proceeds of this offering to repay the outstanding indebtedness under its revolving facility and to fund future acquisitions in accordance with its investment guidelines and for general corporate and working capital purposes. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 637,500 shares.

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  • Government Properties Income Trust (Nasdaq: GOV)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $300,000,000 for our client.

    The Company intends to use the net proceeds from this offering to finance, in part, its transaction with First Potomac Realty Trust. Pending the consummation of the transaction, the Company may repay future amounts outstanding under its revolving credit facility or invest the net proceeds from this offering in short term investments.

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  • Government Properties Income Trust (Nasdaq: GOV)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the second quarter of 2017, helping to raise a total of $516,280,037 for our client.

    The Company intends to use the net proceeds to help fund the Company’s planned acquisition of First Potomac Realty Trust. GOV may also elect to use the proceeds to repay amounts outstanding under its unsecured revolving credit facility or to fund short-term investments, pending the closing of the all-cash deal with First Potomac. Total gross proceeds includes the partial exercise of the underwriters’ over-allotment option, through which they purchased an additional 2,907,029 shares.

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  • Physicians Realty Trust (NYSE: DOC)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the second quarter of 2017, helping to raise a total of $408,000,000 for our client.

    The Company intends to use the net proceeds of this offering (i) to repay a portion of the outstanding indebtedness under its revolving credit facility, (ii) to fund pending acquisitions (iii) for general corporate purposes, including, without limitation, working capital and investment in real estate. The underwriters have a 30-day option to purchase an additional 3,000,000 shares to cover over-allotments.

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BB&T Capital Markets REIT commitments are focused across multiple asset types and industry sectors.