Office building REIT ETRE files for a $53 million IPO

ETRE REIT, which was recently-formed to own and operate an office building in Washington, D.C, filed on Monday with the SEC to raise up to $53 million in an initial public offering. The company was formed to permit public investment in individual real estate properties and each share will represent a certain number of rentable square feet of the property.

The New York, NY-based company, which was founded in 2014, plans to list on the NASDAQ under the symbol ECAV. ETRE REIT initially filed confidentially on May 2, 2013. Sandler O'Neill is the sole bookrunner on the deal. No pricing terms were disclosed.