Tricon Capital Completes US$261 Million Co-Investment into Tricon IX and C$242M Bought Deal Offering

Goodmans represented Tricon Capital Group in connection with its acquisition of a 68.4% limited partnership interest in Tricon IX Limited Partnership, a dedicated U.S. residential development fund managed by Tricon with total committed capital of approximately US$332 million, from certain limited partners of Tricon IX, for a total net purchase price of approximately US$261 million.  Tricon concurrently completed a $242 million public offering of 39,272,500 common shares on a bought deal basis at a price of $6.15 per common share involving a syndicate of underwriters co-led by GMP Securities and RBC Dominion Securities, and a US$45 million newly-committed revolving credit facility, fully provided by Royal Bank of Canada and JPMorgan Chase.