Allied Properties REIT completes $230M public equity offering

On March 7, 2019, Allied Properties Real Estate Investment Trust (“Allied Properties REIT”) completed a public offering of 4,968,000 units (inclusive of 648,000 units issued pursuant to the exercise in full of the underwriters’ over-allotment option) at a price of $46.30 per unit for gross proceeds of just over $230 million. The units were offered on a bought deal basis by a syndicate of underwriters led by Scotiabank, RBC Capital Markets and Goldman Sachs Canada Inc.

Aird & Berlis LLP represented Allied Properties REIT with a team comprised of Margaret Nelligan, Sherri Altshuler, Anne Miatello, Melanie Cole, Liam Tracey-Raymont and Amy Marcen-Gaudaur (Corporate and Securities), Mike Smith and Neill Kalvin (Real Estate), and Barbara Worndl (Tax).

Stikeman Elliott LLP represented the syndicate of underwriters as Canadian counsel with a team comprised of David Weinberger, Cara Cornacchia and Benjamin Jain (Corporate and Securities), Melissa Schyven and Ciaron Czajkowski (Real Estate), and Lindsay Gwyer (Tax).
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