CPL Long Term Care Real Estate Investment Trust, which is the largest owner of long-term care facilities in Canada, completed in early June, 2000 the first public convertible debenture offering by a real estate investment trust. The offering raised $34.5 million and was underwritten by a team led by CIBC World Markets.
Stephen Pincus, Sheldon Freeman and David Sherman of Goodman Phillips & Vineberg acted for CPL on the deal. Jonathon Levin, Gregory HoYeun and Claudia Feldkamp of Fasken Martineau DuMoulin LLP acted for the underwriters.