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Terreno Realty sets up ATM offering program for up to $300M of common shares

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Terreno Realty sets up ATM offering program for up to $300M of common shares

Terreno Realty Corp. launched an at-the-market equity offering program whereby the company may sell up to $300.0 million of its common shares from time to time.

The industrial real estate investment trust signed separate equity distribution deals with KeyBanc Capital Markets Inc., Robert W. Baird & Co. Inc., BTIG LLC, Goldman Sachs & Co. LLC, Jefferies LLC, JMP Securities LLC, MUFG Securities Americas Inc., Regions Securities LLC, Sandler O'Neill & Partners LP and Stifel Nicolaus & Co. Inc. as agents for the sale of the shares.

Terreno said it plans to use any net proceeds for future acquisitions and debt repayment, among other general corporate purposes.

The REIT issued 2,864,071 common shares at a weighted average offering price of $42.32 per share under its previous at-the-market offering program, raising $121.2 million in gross proceeds, according to a filing.