Friedman Billings' REIT unit files for IPO

WASHINGTON, April 10 (Reuters) - FBR Capital Markets Corp., a real estate investment trust subsidiary of Friedman Billings Ramsey Group Inc. (FBR.N), filed with regulators on Tuesday for an initial public offering.

Plans call for the sale of up to 13.5 million shares of common stock at an estimated price of $16 to $18 each, according to a registration statement filed with the U.S. Securities and Exchange Commission.

FBR Capital Markets was formed in June as the holding company for FBR Group's capital markets, including investment banking and institutional brokerage and research, and asset management businesses.