Allied Properties REITcloses public equity offering

On August 17, 2017, Allied Properties Real Estate Investment Trust (Allied Properties REIT) completed a public 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. The units were offered on a bought deal basis by a syndicate of underwriters led by Scotiabank and RBC Capital Markets, and including BMO Capital Markets, CIBC Capital Markets, TD Securities Inc., Desjardins Securities Inc., National Bank Financial Inc., Canaccord Genuity Corp. and Raymond James Ltd.

Aird & Berlis LLP represented Allied Properties REIT with a team comprised of Margaret Nelligan, Sherri Altshuler, Anne Miatello, Melanie Cole and Daniel Everall (corporate and securities), Mike Smith and Aaron Silver (real estate) and Barbara Worndl (tax).

Stikeman Elliott LLP represented the syndicate of underwriters with a team comprised of David Weinberger, Ryan Kirvan, Katarina Zoricic and Rachel Wasserman (corporate), Chad Bass-Meldrum (real estate) and Lindsay Gwyer (tax).