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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.

Inovalis REIT Completes $105 Million IPO


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


Goodmans represented Inovalis Real Estate Investment Trust (the "REIT") in connection with the completion of its initial public offering of trust units, raising gross proceeds of $105,000,000. A total of 10,500,000 trust units were sold at a price of $10.00 per trust unit.

The REIT has granted to the underwriters of the offering an option to purchase up to an additional 15% of the trust units sold at closing of the offering at a price of $10.00 per trust unit for a period of 30 days after closing of the offering, which, if exercised in full, will increase the total gross proceeds of the offering to approximately $120,750,000.

The offering was underwritten by a syndicate of underwriters led by Desjardins Securities Inc. and including GMP Securities L.P., Macquarie Capital Markets Canada Ltd., Laurentian Bank Securities Inc., UBS Securities Canada Inc., Manulife Securities Incorporated, Burgeonvest Bick Securities Limited, Industrial Alliance Securities Inc. and Mackie Research Capital Corporation.

The net proceeds will be used by the REIT to indirectly acquire a portfolio of income-producing properties that are currently being managed by Inovalis S.A., with the balance to be used for general trust purposes. This portfolio consists of four office properties in France and Germany, comprising 529,267 square feet (49,170 square metres) of gross leasable area. Inovalis will indirectly retain an approximate 12.3% ownership interest in the REIT on a fully exchanged basis (approximately 10% if the over-allotment option is exercised in full) through the ownership of trust units and exchangeable securities of a subsidiary of the REIT, which exchangeable securities are economically equivalent to, and exchangeable for, trust units of the REIT.