Republic Property Trust Prices IPO

Republic Property Trust, a real estate investment trust based in Washington, D.C., has priced its initial public offering of 20 million common shares at $12 per share.The office REIT said it plans to use the net proceeds of the offering to repay debt, redeem the ownership interests of certain partners in its predecessor, and satisfy certain tax and other liabilities and fees. The stock will trade on the New York Stock Exchange under the symbol RPB. Lehman Brothers Inc. and Bear, Stearns & Co. were the joint book-running managers of the offering.