Callahan Capital Properties, a newly organized REIT that will manage a diversified portfolio consisting primarily of Class A office properties, filed on Friday with the SEC to raise up to $500 million in an initial public offering. The Chicago, IL-based company, which was founded in 2006 and has no operating history to date, plans to list on the NYSE under the symbol CCP. Management is led by Timothy Callahan, former CEO of Trizec Properties and Equity Office Properties Trust, the two largest public US office REITs prior to their respective sales. BofA Merrill Lynch, Goldman Sachs, and Wells Fargo Securities are the lead underwriters on the deal, for which pricing terms and timing were not disclosed.
