Vinson & Elkins Advises on Two REIT Public Offerings
Vinson & Elkins advised on two public offerings by REITs, which priced the week of Sept. 11.
In the first, V&E served as issuer’s counsel in Global Medical REIT Inc.’s pricing of its underwritten public offering of 2,700,000 shares of its 7.50% Series A Cumulative Redeemable Preferred Stock, $0.001 par value per share, raising net proceeds of approximately $65.2 million. The V&E corporate team was led by partner Daniel LeBey with assistance from senior associate Doug Boyle and associates Caroline Lamberti and Jennifer Wong. Partner Chris Mangin and associate Sam Guthrie provided tax advice.
In the second offering, V&E served as underwriters’ counsel in Urstadt Biddle Properties Inc.’s pricing of its underwritten public offering of 4,000,000 shares of its 6.250% Series H Cumulative Redeemable Preferred Stock, liquidation preference of $25.00 per share, for estimated net proceeds before expenses of approximately $96.850 million. The V&E corporate team was led by team was led by partners Daniel LeBey and David Freed with assistance from associates Zach Swartz, Nick Griffin and Jennifer Wong. Partner Chris Mangin and associate Sam Guthrie provided tax advice, and partner Casey Hopkins advised on environmental issues.