Allied Properties Real Estate Investment Trust (REIT) completed a public offering of 2,213,750 units (inclusive of 288,750 units issued pursuant to the exercise in full of the underwriters’ over-allotment option) at a price of $39.00 per unit for gross proceeds of just over $86 million.
The units were qualified by a prospectus supplement dated January 12, 2015, to a short form base shelf prospectus dated November 28, 2014. The units were underwritten by a syndicate of underwriters led by Scotiabank and including RBC Capital Markets, CIBC, TD Securities Inc., BMO Capital Markets, Desjardins Securities Inc., National Bank Financial Inc., Canaccord Genuity Corp., Dundee Securities Ltd., and Raymond James Ltd.
Aird & Berlis LLP represented Allied Properties REIT. The Aird & Berlis team comprised Margaret Nelligan, Sherri Altshuler, Melanie Cole and Graham Topa (corporate and securities), Barbara Worndl (tax) and Mike Smith (real estate).
Stikeman Elliott LLP represented the syndicate of underwriters in the public offering. The Stikeman Elliott team comprised David Weinberger, Cara Cornacchia, Colin Burn and Marshall Eidinger (corporate and securities), Katy Pitch (tax), Nili Birshtein and Michael Nilevsky (real estate) and Larry Cobb (environmental).