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Easterly Government Properties IPO Could Be A Sturdy Buy

Easterly Government Properties (DEA) expects to raise ~$180 million in its upcoming IPO. Based in Washington D.C., Easterly Government Properties is a real estate investment trust (REIT) that acquires and manages Class A commercial properties that are leased to U.S. Government agencies.

DEA will offer 12 million shares at an expected price range of $14 to $16. If the underwriters price the IPO at the mid-point of that range, DEA will have a market capitalization of ~$570 million.

DEA filed for the IPO on December 23, 2014.

Lead Underwriters: Citigroup Global Markets, Raymond James, and RBC Capital Markets

Underwriters: Piper Jaffray, PNC Capital Markets, and SunTrust Robinson Humphrey

Business Summary: Real Estate Investment Trust that Focuses on Class Properties Leased to the Federal Government

Organized in 2014, Easterly Government Properties is an REIT that intends to acquire and manage primarily Class A commercial properties that are leased to the U.S.… Read More …