MedEquities Realty Trust, a recently-formed REIT focused on health care properties in Texas and California, announced terms for its IPO on Monday.
The Nashville, TN-based company plans to raise $259 million by offering 19.9 million shares (5% insider) at a price range of $12 to $14. At the midpoint of the proposed range, MedEquities Realty Trust would command a fully diluted market value of $398 million.
MedEquities Realty Trust was founded in 2014 and booked $50 million in sales for the 12 months ended June 30, 2016. It plans to list on the NYSE under the symbol MRT. FBR Capital Markets, J.P. Morgan, Citi and KeyBanc Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of September 26, 2016.
