Richmond Honan Medical Properties files for $258 million IPO

Richmond Honan Medical Properties, a self-managed REIT with equity interests in 29 medical office buildings in 10 states, filed on Tuesday with the SEC to raise up to $258 million in an initial public offering. The Atlanta, GA-based company was recently created to continue the business created by CEO Lea Richmond in 1975 of developing medical office buildings aligned with healthcare delivery systems. Richmond Honan booked $38 million in pro forma sales last year and plans to list on the NYSE under the symbol MOB. Baird is the lead underwriter on the deal, for which terms and timing were not disclosed.