Industrial Logistics Properties Trust, an RMR-managed industrial REIT spun out of Select Income REIT, raised $480 million by offering 20 million shares at $24, well below the range of $28 to $31. Industrial Logistics Properties Trust plans to list on the Nasdaq under the symbol ILPT. UBS Investment Bank, Citi, RBC Capital Markets, BofA Merrill Lynch, Morgan Stanley and Wells Fargo Securities acted as lead managers on the deal.
