Allied Properties REIT completes $299M public equity offering

On June 22, 2018, Allied Properties Real Estate Investment Trust (Allied Properties REIT) completed a public offering of 7,293,300 units (inclusive of 951,300 units issued pursuant to the exercise in full of the underwriters’ over-allotment option) at a price of $41.00 per unit for gross proceeds of just over $299 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., and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., TD Securities Inc., National Bank Financial Inc., Canaccord Genuity Corp., Desjardins Securities Inc. and Raymond James Ltd.

Aird & Berlis LLP represented Allied Properties REIT with a team comprised of Margaret Nelligan, Sherri Altshuler, Anne Miatello, Melanie Cole, Daniel Everall, Liam Tracey-Raymont and Amy Marcen-Gaudaur (corporate and securities), Mike Smith and Aaron Silver (real estate) and Carol Burns (tax).

Stikeman Elliott LLP represented the syndicate of underwriters as Canadian counsel with a team comprised of David Weinberger, Cara Cornacchia and Alex Carmona (corporate and securities), Melissa Schyven and Ciaron Czajkowski (real estate) and Jill Winton (tax).