American Hotel Income Properties REIT LP (AHIP) completed a bought deal offering of limited partnership units. The offering raised gross proceeds of approximately $50.7 million through the issuance of 4.9-million limited partnership units, which included 552,000 limited partnership units issued as a result of the underwriters electing to exercise in part the over-allotment option.
The offering was underwritten by a syndicate of underwriters led by Canaccord Genuity Corp. and National Bank Financial Inc., and included CIBC World Markets Inc., TD Securities Inc., Haywood Securities Inc., Scotia Capital Inc., and Dundee Securities Ltd.
AHIP was represented in the offering by Farris, Vaughan, Wills & Murphy LLP with a team led by Brian Canfield that included Robert Veitch and Lisa Andrews.
The underwriters were represented by Blake, Cassels & Graydon LLP with a team led by William Fung that included Eric Moncik and Jessica Hinman (securities); and Chris Van Loan and Edward Miller (tax).