Allied Properties Real Estate Investment Trust Completes $300 Million Public Equity Offering
Allied Properties Real Estate Investment Trust (“Allied”), a leading owner, manager and developer of urban office environments operating in Canada’s major cities, recently completed a $300 million public equity offering of units.
On August 17, 2017, Allied completed an offering of 7,695,000 units (inclusive of 770,000 units issued pursuant to the exercise in full of the underwriters’ over-allotment option) at a price of $39.00 per unit for gross proceeds of just over $300 million. Allied intends to use the net proceeds from this offering: (a) to repay amounts drawn on its unsecured revolving operating facility used for general capital funding relating to Allied’s capital improvements, acquisitions and intensification projects; (b) to fund capital investment over the remainder of 2017; and (c) for general trust purposes.
Aird & Berlis LLP represented Allied with a team comprised of Margaret Nelligan, Sherri Altshuler, Anne Miatello, Melanie Cole, Daniel Everall and Tyler Brent (corporate and securities), Mike Smith and Aaron Silver (real estate), and Barbara Worndl (tax).-
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Clients appreciate Barbara’s dedication to finding the most tax efficient structures for their business. She thrives on the complexities of tax ...
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Mike has been practising real estate law at Aird & Berlis LLP for over 35 years, advising and supporting both entrepreneurial and institutional cl...
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Whether advising her clients on public and private financings, mergers and acquisitions or corporate commercial matters, Melanie takes a client-first ...
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Sherri earns the trust of her clients by adeptly managing complex and time-sensitive corporate finance transactions and by providing relevant, busines...
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With over 30 years of experience as a corporate and securities lawyer, Margaret provides reliable and incisive advice clients can use with confidence.
