Allied Properties Real Estate Investment Trust Announces Closing of Public Equity Offering and Exercise of Over-Allotment Option
March 14 2011 - 9:05AM
Marketwired
Allied Properties REIT (TSX: AP.UN) announced today that it has
closed the previously announced offering of 3,921,500 units
(inclusive of 511,500 units issued pursuant to the exercise in full
of the underwriters' over-allotment option) at a price of $22.00
per unit for gross proceeds of just over $86.2 million. The units
were qualified by a short form prospectus dated March 7, 2011, and
were underwritten by a syndicate of underwriters led by Scotia
Capital Inc. and including RBC Dominion Securities Inc., CIBC World
Markets Inc., Canaccord Genuity Corp., National Bank Financial
Inc., Dundee Securities Ltd., Macquarie Capital Markets Canada Ltd.
and Desjardins Securities Inc.
The REIT intends to use the net proceeds of the offering to pay
down its revolving credit facility, fund future acquisitions and
for general working capital purposes.
Allied Properties REIT is a leading owner, manager and developer
of urban office environments that enrich experience and enhance
profitability for business tenants operating from Toronto,
Montreal, Winnipeg, Quebec City, Kitchener-Waterloo, Calgary and
Vancouver. Its objectives are to provide stable and growing cash
distributions to unitholders and to maximize unitholder value
through effective management and accretive portfolio growth.
Contacts: Allied Properties REIT Michael R. Emory President and
Chief Executive Officer (416) 977-9002
memory@alliedpropertiesreit.com
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