skip to main content





Back to all Representative Matters
Jul 6, 2018

Allied Properties Real Estate Investment Trust Completes $299 Million Public Equity Offering

Margaret T. Nelligan, Sherri M. Altshuler, Anne E. Miatello, Melanie Cole, Daniel Everall, Liam Tracey-Raymont, Amy Marcen-Gaudaur, Michael D. Smith and Carol J. Burns

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 $299 million public equity offering of units.

On June 22, 2018, Allied completed an offering of 7,293,300 units (inclusive of 951,300 units issued pursuant to the exercise in full of the underwriters’ over-allotment option) at a price of $41.00 per unit for gross proceeds of just over $299 million. Allied intends to use the net proceeds from this offering to retire existing debt obligations, including: (a) allocating approximately $132 million of the net proceeds to the first mortgage on 151 Front Street West in Toronto, and (b) allocating the remainder of the net proceeds to repay the full amount drawn on Allied’s operating and acquisition line of credit, which Allied used to fund acquisitions, mortgage repayments, revenue-enhancing capital expenditures and development costs thus far in 2018.

Aird & Berlis LLP represented Allied with a team comprised of Margaret Nelligan, Sherri Altshuler, Anne Miatello, Melanie Cole, Daniel Everall, Liam Tracey-Raymont and Amy Marcen-Gaudaur (corporate and securities), Mike Smith and Aaron Silver (real estate), and Carol Burns (tax).

Areas of Expertise

Related Representative Matters

Representative Matters
Firesteel Resources Acquires Remaining Interest of Nordic Mines Marknad AB Thomas A. Fenton, Melanie Cole, Liam Tracey-Raymont, Aaron T. Collins, Peter K. Czegledy and Carol J. Burns Feb 05, 2019 Firesteel Resources Inc., a mining company engaged in the acquisition and exploration of prospective precious and base metal properties in Canada and around the world, exercised its Minority Buy-Out Right to acquire the remaining 40% interest of Nordic Mines Marknad AB.
Representative Matters
Allied Properties REIT Completes $155 Million Public Equity Offering Margaret T. Nelligan, Sherri M. Altshuler, Anne E. Miatello, Melanie Cole, Liam Tracey-Raymont, Amy Marcen-Gaudaur, Michael D. Smith and Barbara Worndl Oct 02, 2018 Allied Properties Real Estate Investment Trust, a leading owner, manager and developer of urban office environments operating in Canada’s major cities, recently completed a $155 million public equity offering of units.
Representative Matters
Medipharm Labs Inc. Completes $22.3 Million Private Placement Melanie Cole, Daniel Everall, Amy Marcen-Gaudaur, Barbara Worndl and Damian Lu Aug 01, 2018 On June 29, 2018, MediPharm Labs Inc. completed a private placement of 2,070,571 units at a price of $10.778 per Unit for aggregate proceeds of approximately $22,316,600 in connection with its proposed business combination with POCML4 Inc.