Artis REIT Completes $86.5M Equity Offering
|Areas||Corporate Finance and Securities, REITs and Income Securities, Tax|
Goodmans represented the syndicate of underwriters in connection with the completion of a bought deal offering of units by Artis Real Estate Investment Trust (“Artis”). The syndicate of underwriters was 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., Raymond James Ltd., TD Securities Inc., Brookfield Financial Corp. and Desjardins Securities Inc. Artis issued and sold an aggregate of 5,750,000 trust units (Units) (inclusive of 750,000 Units issued pursuant to the exercise of the Underwriters’ over-allotment option) at a price of $15.05 per Unit for gross proceeds to Artis of $86,537,500. Artis intends to use the net proceeds from the Offering to fund new 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.