Whiterock REIT Completes Concurrent Unit And Debenture Offerings

Whiterock Real Estate Investment Trust (“Whiterock” or the “REIT”) (TSX:WRK.UN) completed a public offering consisting of 1,560,000 trust units of the REIT at a price of $12.85 per Unit for gross proceeds of $20,046,000 and a concurrent public offering of $45 million aggregate principal amount of 5.50 per cent convertible unsecured subordinated debentures, Series H of the REIT due March 31, 2017 at a price of $1,000 per Debenture, for aggregate gross proceeds of approximately $65 million. Both offerings were completed on a bought deal basis by a syndicate of underwriters led by TD Securities Inc. and including CIBC World Markets Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., Canaccord Genuity Corp., National Bank Financial Inc., Dundee Securities Ltd., Raymond James Ltd., Brookfield Financial Corp., Desjardins Securities Inc., Macquarie Capital Markets Canada Ltd., and Laurentian Bank Securities Inc.
(the “Underwriters”).

On December 19, 2011, the Underwriters exercised their over-allotment option to purchase an additional 234,000 Units at a price of $12.85 per unit and an additional $6,650,000 principal amount of Debentures, for additional aggre-gate gross proceeds to Whiterock of approximately $9.7 million.

The aggregate gross proceeds to Whiterock from the Offering and the completed over-allotment option exercise totalled approximately $74.7 million.

Whiterock was represented by Goodmans LLP with a team that included Sheldon Freeman, David Nathanson, Victoria Petherbridge, Joanna Creed (corporate) and Mark Biderman (tax); and by Thompson Dorfman Sweatman LLP in Manitoba with a team that included Jeff Kowall and Andrew Thompson (corporate).

The Underwriters were represented by Torys LLP with a team that included Simon Knowling and Christian Thatcher (corporate); Bill Lamoureux (real estate); Grace Pereira and Richard Johnson (tax) and Michael Fortier (environmental).


Simon C. Knowling Sheldon Freeman Jeffrey A. Kowall Andrew L. Thompson Michael J. Fortier Christian Thatcher Grace Pereira Mark Biderman Richard W. Johnson Victoria Petherbridge David Nathanson Bill Lamoureux


Goodmans LLP Thompson Dorfman Sweatman LLP Torys LLP