Allied Properties REIT completes offering

On August 19, 2016, Allied Properties Real Estate Investment Trust (“Allied Properties REIT”) completed a public offering of 6,089,250 units (inclusive of 794,250 units issued pursuant to the exercise in full of the underwriters’ over-allotment option) at a price of $37.80 per unit for gross proceeds of just over $230 million. The units were offered on a bought deal basis by a syndicate of underwriters co-led by Scotiabank and RBC Capital Markets, and including BMO Capital Markets, CIBC, TD Securities Inc., Desjardins Securities Inc., Canaccord Genuity Corp. and Raymond James Ltd.

Aird & Berlis LLP represented Allied Properties REIT with a team composed of Margaret Nelligan, Sherri Altshuler, Anne Miatello, Melanie Cole and Daniel Everall (corporate and securities), Mike Smith (real estate), and Barbara Worndl and Carol Burns (tax).

Stikeman Elliott LLP represented the syndicate of underwriters with a team composed of David Weinberger, Ryan Kirvan, Christopher Yung and Katarina Zoricic (securities), Brady McLeod (real estate) and Lindsay Gwyer (tax). 

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