Nexus REIT closes financing and private placement

Nexus Real Estate Investment Trust completed a public offering of 26,200,000 trust units of the REIT at a price of $2.10 per unit for gross proceeds to the REIT of approximately $55 million.

Nexus Real Estate Investment Trust completed a public offering of 26,200,000 trust units of the REIT at a price of $2.10 per unit for gross proceeds to the REIT of approximately $55 million.

Concurrent with the public offering, RFA Capital Partners Inc. and related investors purchased 7,150,000 trust units of the REIT at a price of $2.10 per unit, on a non-brokered private placement basis, for gross proceeds to the REIT of approximately $15 million.

The offering was made through a syndicate of underwriters, that was co-led by Desjardins Capital Markets and National Bank Financial Inc. and including Echelon Wealth Partners Inc., GMP Securities L.P., TD Securities Inc., Canaccord Genuity Corp., Industrial Alliance Securities Inc., Manulife Securities Incorporated and Laurentian Bank Securities Inc.

Blake, Cassels & Graydon LLP acted as Canadian counsel to the REIT, with a team that included William Fung, Jacob Gofman, Jeremy Ozier and Patrick Severide (securities), and Andrew Spiro and Ian Caines (tax). Greenberg Traurig, LLP acted as US counsel to the REIT with a team that included Andrew White and Barbara Jones.

The syndicate of underwriters were represented by Davies Ward Phillips & Vineberg LLP, with a team in Canada that included Jim Reid and Jennifer Prieto (securities), and Raj Juneja and Kimberly Brown (tax); and in the US with a team that included Scott Fisher (securities), and Peter Glicklich and Heath Martin (tax).

Lawyer(s)

William Fung James R. Reid Raj Juneja

Firm(s)

Blake, Cassels & Graydon LLP Davies Ward Phillips & Vineberg LLP