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Goodmans Deals & Cases

This section contains brief summaries of selected significant cases and transactions.  You'll also find representative lists  - by year - of major transactions and cases where Goodmans' involvement is a matter of public record or where inclusion in the list has been authorized by our clients.

Agellan Commercial REIT Completes $134.6 Million IPO and Portfolio Real Estate Purchase


Areas Corporate Finance and Securities, REITs and Income Securities, Tax


Goodmans represented Agellan Commercial Real Estate Investment Trust (the “REIT”) (TSX:ACR.UN) in connection with the completion of an initial public offering of 13,461,943 units for gross proceeds of approximately $134.6 million. The units were sold to a syndicate of underwriters co-led by BMO Capital Markets and CIBC and included RBC Dominion Securities Inc., TD Securities Inc., GMP Securities L.P., National Bank Financial Inc., Raymond James Ltd., Scotia Capital Inc. and Canaccord Genuity Corp. The underwriters have an option to purchase up to an additional 2,019,292 units from the REIT and the retained interest holders at a price of $10.00 per unit for a period of 30 days after closing of the offering which, if exercised in full, would increase the total gross proceeds of the offering to the REIT and the retained interest holders to approximately $154.8 million.

The net proceeds of the offering were used by the REIT to acquire 23 properties comprising 18 industrial properties containing 2.8 million square feet of gross leasable area (“GLA”), four office properties containing 1.4 million square feet of GLA and one retail property containing 45,000 square feet of GLA. Agellan Capital Partners Inc. will provide asset management and certain administrative services to the REIT.

The REIT was formed to own and operate industrial, office and retail properties in the United States and Canada.