Commercial/Multifamily Briefs

MBA NewsLink Staff

May 08, 2019

McGuireWoods Launches Opportunity Zone Team
Law firm McGuireWoods launched a multidisciplinary team to assist clients with opportunity zone investment and development.

The National Opportunity Zone Development Team includes members with backgrounds in real estate, tax, fund formation and public finance. The team assists opportunity zone investors with tax structuring and fund formation, guides sponsors, companies and project developers through the process and helps them make the most of state and local incentives.

The team has established best practices for matching opportunity zone projects with private equity capital and state and local incentives.

Postal Realty Trust Launches Initial Public Offering
Postal Realty Trust, Cedarhurst, N.Y., a real estate investment trust that will own and manage properties leased to the United States Postal Service, launched its initial public offering of five million shares of its Class A common stock.

The REIT is an internally managed real estate company that will own and manage properties leased to the United States Postal Service. Upon completion of the offering, it will own and manage 271 postal properties in 41 states comprising 871,843 net leasable interior square feet, all of which are leased to the USPS.

Through its taxable REIT subsidiary Postal Realty Trust will provide fee-based third-party property management services for an additional 404 postal properties leased to the USPS.

The initial public offering price is expected to be between $19.00 and $21.00 per share before underwriting discounts and commissions.

Stifel, Nicolaus & Co., Janney Montgomery Scott LLC, BMO Capital Markets Corp. and Height Capital Markets, LLC are acting as joint book-running managers for the offering. B. Riley FBR, Inc. and D.A. Davidson & Co. are acting as co-managers for the offering.

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