BRE Properties (BRE) To Offer 5M Shares

BRE Properties, Inc. (NYSE: BRE) will offer 5,000,000 shares of its common stock in an underwritten registered offering. The company also plans to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock to cover over-allotments, if any.

BofA Merrill Lynch and Wells Fargo Securities will act as joint book-running managers for the proposed offering.