In 2005, EDGE’s principals founded Republic Property Trust, a fully integrated, self-administered and self-managed NYSE publicly-traded real estate investment trust (“Republic”). The IPO raised $252 million in capital at $12/share. Approximately 90% of Republic’s shares were held by institutional investors including Cohen & Steers, Morgan Stanley and JPMorgan. Republic’s portfolio consisted of 25 institutional-grade office buildings totaling 2.6 million square feet located in the Washington, D.C. metropolitan area.
- 1129 20th Street, NW, Washington, D.C.
- 1425 New York Avenue, NW, Washington, D.C.
- Campus at Dulles Technology Center, Herndon, Virginia
- Corporate Oaks, Herndon, Virginia
- Corporate Pointe IV, Chantilly, Virginia
- Lakeside I and II, Chantilly, Virginia
- Pender Business Park, Fairfax, Virginia
- Presidents Park I, II and III, Herndon, Virgnia
- Republic Park 1-8, Herndon Virginia
- WillowWood I, II, III and IV, Fairfax, Virginia
Mark Keller was a founder and served as Chief Executive Officer and Trustee and Gary Siegel served as General Counsel and Chief Operating Officer of Republic. Republic merged with Liberty Property Trust in 2007, delivering an IRR in excess of 25%.
Republic Property Trust At-A-Glance
|2.6 Million||square feet of office buildings owned and managed|
|$252 million||equity raised|
|7%||average dividend return|
|25%||IRR (before tax)|