Bridge Investment Group, a vertically integrated real estate investment manager with $ 26 billion in equity, raised $ 300 million by offering 18.8 million shares at $ 16, the midpoint of the $ 15 to $ 17 range. Bridge is estimated to have a market value of $ 1.8 billion.
Bridge Investment Group is diversified across specialized asset classes in real estate, including multi-family, debt, office, development, HR, MBS and seniors. Its vertically integrated approach includes investment professionals as well as employees who carry out active asset management, real estate, leasing and construction management functions.
The Salt Lake City, Utah-based company plans to list on the NYSE under the symbol BRDG. Morgan Stanley, JP Morgan, Citi, Wells Fargo Securities and UBS Investment Bank acted as joint bookrunners for the deal.
Article Bridge Investment Group, a real estate investor, estimates the IPO at $ 16. Originally appeared on renaissancecapital.com, which manages investments in the Renaissance Capital IPO.
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