The Real Deal Miami

REIT IPOs raise more than $4B in 2014, study shows

U.S. REITs raised $4.9B in 2013

January 13, 2015 04:30PM

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SNLFinancial2014Six U.S. real estate investment trusts completed initial public offerings in 2014, raising more than $4 billion. That’s substantially fewer IPO debuts than the previous year, when 13 U.S. REITs were publicly traded for the first time for an aggregate of $4.9 billion.

A study by SNL Financial reported that Paramount Group completed the largest U.S. equity REIT IPO in history, raising just under $2.7 billion in proceeds in mid-November. From then to Dec. 31, Paramount shares had a total return of 6.23 percent.

Formerly known as CBS Outdoor Americas, OUTFRONT Media was the first U.S. REIT to complete an IPO in 2014. It raised $644 million — second to Paramount. Between March 27 and the end of the year, the company’s shares had a total return of 16.23 percent, according to an SNL Financial news release.

SNL Financial also reported STORE Capital Corp. raised approximately $585 million in IPO proceeds, ranking third among all six companies. Its shares provided investors a return of 17.42 percent from the date of its IPO completion from mid-November to Dec. 31. — Kristina Puga

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