Allied Properties REIT completes $172M public offering

Allied Properties Real Estate Investment Trust (REIT) completed a public offering of 4,887,500 units (inclusive of 637,500 units issued pursuant to the exercise in full of the underwriters’ over-allotment option) at a price of $35.30 per unit for gross proceeds of just over $172 million.

The units were offered on a bought deal basis by a syndicate of underwriters led by Scotiabank and including RBC Capital Markets, CIBC World Markets, TD Securities Inc., BMO Capital Markets, Desjardins Securities Inc., National Bank Financial Inc., Canaccord Genuity Corp., Dundee Securities Ltd., and Raymond James Ltd.

Aird & Berlis LLP represented Allied Properties REIT with a team comprising Margaret Nelligan, Sherri Altshuler and Melanie Cole (corporate and securities); Barbara Worndl (tax) and Mike Smith (real estate).

Stikeman Elliott LLP represented the syndicate of underwriters with a team comprising David Weinberger, Andrew Bozzato, Cara Cornacchia and Colin Burn (corporate and securities); Katy Pitch (tax); Marc Simonik, Brady McLeod and Michael Nilevsky (real estate) and Larry Cobb (environmental).