Allied Properties Reit completes $345-million public equity offering

On June 19, 2019, Allied Properties Real Estate Investment Trust (“Allied”) completed a public offering of 7,176,000 units (inclusive of 936,000 units issued pursuant to the exercise in full of the underwriters’ over-allotment option) at a price of $48.15 per unit for gross proceeds of just over $345 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 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, Neill Kalvin and Zale Skolnik (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 Kevin Chen (Real Estate), and Lindsay Gwyer (Tax).