Easterly Government Properties Priced, NYSE: DEA

Newly formed REIT focused on office properties leased to the US government.

Industry: Real Estate

Latest Trade: $20.30 -0.07 (-0.3%)

First Day Return: +3.3%

Return from IPO: +35.8%

Industry: Real Estate

We are a newly organized and internally managed Maryland corporation that intends to qualify as a real estate investment trust, or REIT, focused primarily on the acquisition, development and management of Class A commercial properties that are leased to U.S. Government agencies that serve essential functions. We generate substantially all of our revenue by leasing our initial portfolio to such agencies through the U.S. General Services Administration, or GSA. Our objective is to generate attractive risk-adjusted returns for our stockholders over the long term through dividends and capital appreciation. Upon completion of this offering and the formation transactions, we will wholly own 29 properties in the United States, including 26 properties that are leased primarily to U.S. Government tenant agencies and three properties that are entirely leased to private tenants, encompassing approximately 2.1 million square feet in the aggregate. Our initial portfolio consists of 15 properties contributed by the Easterly Funds and 14 properties contributed by Western Devcon.
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IPO News for Easterly Government Properties
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IPO Data
IPO File Date 12/23/2014
Offer Price $15.00
Price Range $14.00 - $16.00
Offer Shares (mm) 12.0
Deal Size ($mm) $180
IPO Data
IPO Date 02/05/2015
Offer Price $15.00
Price Range $14.00 - $16.00
Offer Shares (mm) 12.0
Deal Size ($mm) $180
Underwriters
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Company Data
Headquarters Washington, DC
Founded 2014
Employees 25
Website www.easterlyreit.com