On March 1, 2001, H&R Real Estate Investment Trust completed a $100 million bought deal equity offering, pursuant to which it sold 8.3 million units to the public at $12.20 per unit. The offering was handled by a syndicate of underwriters led by Merrill Lynch Canada Inc. H&R is a closed-end real estate investment trust that owns and operates a portfolio of 80 office, build-to-suit industrial and retail properties. The net proceeds of the offering were used to fund acquisitions of additional real estate properties, to reduce indebtedness and for general trust purposes.
H&R REIT was represented by Will Fung, Jules Lewy and Dan Dishy of Fraser Milner Casgrain LLP, and real estate matters were handled by David Kutner of Minden Gross Grafstein & Greenstein LLP. Goodmans LLP acted for the underwriters of the offering with a team that included David J. Matlow, Neil Sternthal, Ken Herlin, Jeff Shore, Alan Bowman and Matt Angus.