REIT Prices IPO

November 02, 2005, 3:00 p.m. EST 1 Min Read

Newkirk Realty Trust Inc., a Boston-based real estate investment trust, has announced the pricing of an initial public offering of 15 million shares of common stock at $16 per share.Newkirk said the joint book-running managers for the IPO are Bear, Stearns & Co. and Credit Suisse First Boston. The underwriters have been granted an option to buy up to 2.25 million additional shares to cover any overallotments. The REIT is the general partner of The Newkirk Master Limited Partnership, which owns triple-net-leased properties and other real estate assets.

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