Renaissance Capital logo

Tri-State multifamily REIT Morgan Properties withdraws $800 million IPO

July 1, 2016
MPT

Morgan Properties Trust, a REIT specializing in the multifamily properties in the Tri-State and D.C. metropolitan areas, withdrew its plans for an initial public offering on Thursday, June 30. It originally filed in July 2011 with a proposed deal size of $800 million.

The King of Prussia, PA-based company was founded in 1985 and booked $173 million in sales for the 12 months ended March 31, 2011. It had planned to list on the NYSE under the symbol MPT. BofA Merrill Lynch, Goldman Sachs, J.P. Morgan and Morgan Stanley were set to be the joint bookrunners on the deal.