AmREIT, a full service REIT that owns and operates neighborhood and community shopping centers, announced terms for its IPO on Monday. The Houston, TX-based company plans to raise $51 million by offering 3.4 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, AmREIT would command a market value of $231 million.
AmREIT, which was founded in 1993 and booked $39 million in revenue for the 12 months ended 3/31/2012, plans to list on the NYSE under the symbol AMRE. Jefferies & Co. and Baird are the joint bookrunners on the deal.
