Cominar REIT Completes $575M Public Offering

On April 21, 2009, Cominar Real Estate Investment Trust, one of the largest commercial property owners and managers in the province of Québec with a real estate portfolio of 215 high-quality properties, completed a public offering of 4,792,050 units, after full exercise of the underwriters' over-allotment option in respect thereof.

The offering was completed on a bought deal basis through a syndicate of underwriters co-led by National Bank Financial Inc. and BMO Nesbitt Burns Inc., and included RBC Dominion Securities Inc., Desjardins Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., Canaccord Capital Corporation, Blackmont Capital Inc. and Genuity Capital Markets G.P., for total net proceeds to Cominar of approximately $54.9 million, after deducting the underwriters' fee and the estimated expenses of the offering.

Cominar was represented by Davies Ward Phillips & Vineberg LLP, with a team that comprised Sylvain Cossette and Sébastien Roy (corporate finance and securities) and Brian Bloom and Fred Purkey (tax).

The underwriters were represented by Lavery, de Billy, L.L.P., with a team that comprised Marc Rochefort, Michel Servant and Guillaume Lavoie (corporate finance and securities) and Philip Nolan (tax).