AR Global’s American Finance Trust Takes Steps to Explore NASDAQ Listing
American Finance Trust Inc., a publicly registered non-traded real estate investment trust sponsored by AR Global, has engaged BMO Capital Markets Corp. to provide strategic advice related to positioning the company in the public markets, according to a filing with the Securities and Exchange Commission.
American Finance Trust Inc., a publicly registered non-traded real estate investment trust sponsored by AR Global, has engaged BMO Capital Markets Corp. to provide strategic advice related to positioning the company in the public markets, according to a filing with the Securities and Exchange Commission.
The REIT plans to list its common stock on the NASDAQ Global Select Market under the symbol “AFIN” once its board gives the green light. The company noted that there is currently no timeframe for the potential listing.
In other news, earlier this month, the company obtained a new $415 million revolving unsecured corporate credit facility with BMO Harris Bank N.A, as administrative agent, together with Citizens Bank and SunTrust Robinson Humphrey Inc. as syndication agents, joint lead arrangers and joint book runners, and other lenders as participants.
The American Finance Trust board recently approved a $23.56 per share net asset value for the company’s common stock as of December 31, 2017. Shares were originally sold for $25.00 each.
American Finance Trust commenced its initial public offering in April 2013, which closed six months later after raising $1.6 billion in investor equity. In February 2017, the company completed its merger with affiliated non-traded REIT, American Realty Capital – Retail Centers of America, and currently owns a portfolio of 540 properties with a total purchase price of $3.5 billion.
