Aviv REIT, a REIT specializing in owning and acquiring skilled nursing facilities, announced terms for its IPO on Monday. The Chicago, IL-based company plans to raise $251 million by offering 13.2 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Aviv REIT would command a fully diluted market value of $908 million. Aviv REIT, which was founded in 2005 and booked $123 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol AVIV. Aviv REIT initially filed confidentially on 10/31/2012. Morgan Stanley, BofA Merrill Lynch and Goldman Sachs are the joint bookrunners on the deal.
