Essential Properties Realty Trust, a triple net lease REIT that manages single-tenant commercial properties, raised $455 million by offering 32.5 million shares at $14, the low end of the $14 to $17 range. Concurrently with the IPO, top shareholder Eldridge Industries agreed to purchase $125 million worth of shares in a private placement.
Essential Properties Realty Trust plans to list on the NYSE under the symbol EPRT. Goldman Sachs, Citi, Barclays, BofA Merrill Lynch and Credit Suisse acted as lead managers on the deal.
