Artis REIT Completes $107 Million Equity Offering
|Areas||Commercial Real Estate, Corporate Finance and Securities, REITs and Income Securities, Tax|
Goodmans represented the underwriters in connection with the completion by Artis Real Estate Investment Trust (“Artis”) of an offering of trust units on a bought deal basis through a syndicate of underwriters led by RBC Dominion Securities Inc., CIBC World Markets Inc. and Canaccord Genuity Corp., and included BMO Nesbitt Burns Inc. National Bank Financial Inc., Scotia Capital Inc., Macquarie Capital Markets Canada Ltd., TD Securities Inc., Desjardins Securities Inc., Raymond James Ltd. and Brookfield Financial Corp. Artis sold 6,570,000 trust units (inclusive of 435,000 units issued pursuant to the partial exercise of the underwriters’ over-allotment option on March 30, 2012) at a price of $16.30 per unit for gross proceeds to Artis of $107,091,000. Artis intends to use the proceeds of the offering to fund future acquisitions, for debt repayment and for general trust purposes.
Artis is a diversified Canadian real estate investment trust investing in office, industrial and retail properties with a portfolio of commercial properties in Canada and the United States, with a major focus on Western Canada.