Terreno Realty Corporation (TRNO), a newly organized REIT focused on acquiring industrial real estate in six major coastal U.S. markets, announced terms for its IPO on Monday. The San Francisco, CA-based company, which initially filed on Nov. 11, plans to raise $300 million by offering 15 million shares at $20.00 per share. Terreno Realty was founded in 2007 and plans to list on the NYSE under the symbol TRNO; net proceeds from the deal will be used to invest in new properties. Goldman Sachs is the sole bookrunner on the deal, for which pricing terms were not disclosed. Terreno Realty's announcement comes at a busy time for REITs: a total of ten have submitted their initial filings since Nov. 1, and two were scheduled to price last week (Pebblebrook (PEB) began trading on Wednesday and raised $350 million, while Chesapeake (CHSP) postponed).
