InterRent REIT completes $98M bought deal financing

On March 28, 2018, InterRent REIT (InterRent) successfully completed a $97,848,900 public offering, made on a bought deal basis. InterRent distributed 10,005,000 trust units, issued at $9.78 per unit though a syndicate of underwriters.

The syndicate consisted of Desjardins Capital Markets, and BMO Nesbitt Burns Inc., as co-lead underwriters, and included RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., CIBC World Markets Inc., Industrial Alliance Securities Inc., National Bank Financial Inc., Raymond James Ltd., Echelon Wealth Partners Inc. and GMP Securities L.P.

InterRent is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.

Gowling WLG (Canada) LLP represented InterRent REIT with a team that included Michael Clancy, Bryce Kraeker and Radhika Vaidyanathan. Harris Beach, PLLC represented InterRent REIT on US securities law matters.

Norton Rose Fulbright Canada LLP represented the syndicate with a team that consisted of Evelyn Li, Seemal Patel and Rob Corbeil (Canadian securities), Peter Wiazowski (US securities), Adrienne Oliver and Hennadiy Kutsenko (tax) and Oliver Moore (real estate).