Terreno Realty Corp., a newly organized REIT targeting industrial real estate in six coastal U.S. markets, lowered the proposed deal size for its upcoming IPO again. The San Francisco, CA-based company now plans to raise $175 million by offering 8.75 million shares at a price of $20 per share. The company had originally filed to offer 15 million shares before lowering the number of shares to 10 million on Jan. 21 and then postponing the deal on Jan. 25. At the mid-point of the revised range, Terreno Realty Corp. will raise -13% fewer proceeds than previously anticipated. Terreno, which was founded in 2009 and has no operating history to date, plans to list on the NYSE under the symbol TRNO. Goldman Sachs is the lead underwriter on the deal, which is expected to price this Tuesday, Feb. 9, along with four other IPOs.
