REIT to Price IPO on Aug. 15

Midatlantic Office Trust, Rockville, Md., is making an initial public offering of 12.75 million shares that is expected to price Aug. 15. Pricing is expected to be in the range of $14 to $16, according to the company’s offering prospectus. Midatlantic, which is expecting to qualify for real estate investment trust status, has applied to list the shares on the New York Stock Exchange. The company will invest in office properties in the Mid-Atlantic region and is initially acquiring nine properties consisting of about 1.4 million square feet for about $228.1 million. Net proceeds from the IPO of about $202.1 million, including the exercise of the underwriters’ over-allotment option, will go primarily to fund this acquisition, including repayment of mortgage debt on some of the properties. Friedman, Billings, Ramsey is the managing underwriter to the offering.