199 Bay St, Suite 4000, Commerce Court West, Toronto, ON
Year called to bar: 1992 (ON)
Will's primary focus is on corporate finance transactions and public mergers & acquisitions, from public offerings and private placements of equity and debt securities on behalf of issuers, dealers, and strategic investors, to takeover bids, merger transactions, and proxy battles on behalf of offerors, targets, activist investors, and special committees. In particular, he has significant experience with domestic and cross-border REITs, REOCs, income funds, and mutual fund corporations. Will also regularly advises issuers and other market participants on corporate governance and regulatory compliance matters. He is a member of the Hong Kong Canada Business Association. Recent representative matters include Starlight US Multi-Family Core Fund in connection with its $1.4 billion sale to Tricon Capital in June 2019; WPT Industrial REIT in connection with its bought deal REIT unit treasury offerings totalling US$220 million in 2019; R&R REIT in connection with its related party acquisition of 8 US hotels for US$52 million in September 2019; and H&R REIT in connection with its unwind of its stapled unit structure with H&R Finance Trust in October 2018.
Minto Apartment Real Estate Investment Trust (the REIT) (TSX: MI.UN) completed its initial public offering of 15,863,100 trust units at a price of $14.50 per unit (the Offering). The Offering raised gross proceeds of $230,014,950, including through exercise of the underwriters’ over-allotment option in full which option exercise was completed July 10. The units trade on the Toronto Stock Exchange under the symbol MI.UN.
On January 23, 2018, H&R Real Estate Investment Trust (H&R REIT) completed a public offering of $250 million principal amount of 3.416 per cent Series O senior unsecured debentures due January 23, 2023.
HealthLease Properties Real Estate Investment Trust (HealthLease) was acquired by Health Care REIT, Inc. (HCN) for $14.20 (US$13.01) per unit in cash, representing an aggregate transaction value of approximately $1 billion (US$950 million). HealthLease's portfolio consisted of 53 properties (14 in two Canadian provinces and 39 in eight US states) of seniors housing, post-acute care and long-term care facilities.
On July 27, 2010, H&R Real Estate Investment Trust (“H&R REIT”) completed a bought deal financing pursuant to which it issued $100,000,000 aggregate principal amount of 5.90 per cent Series D convertible unsecured subordinated debentures due June 30, 2020.
On May 9, 2007, H&R Real Estate Investment Trust (H&R REIT) completed a bought deal financing pursuant to which it issued approximately 8.86 million trust units, including 0.86 million trust units issued pursuant to an over-allotment option, for total gross proceeds of approximately $224.2 million.
On March 16, 2005, H&R Real Estate Investment Trust (H&R REIT) completed a bought-deal financing pursuant to which it issued 5.25 million trust units for total gross proceeds of approximately $100.3 million.
Stikeman Elliott is acting as Canadian counsel to Castings Acquisition Corp., an affiliate company of The Carlyle Group, a major private investment fund based in Washington, D.C., in its proposed acquisition (by way of plan of arrangement), of all of the outstanding common shares of Tritech Precision Inc. and all of the outstanding Class A common shares of Trimin Enterprises Inc.