Interrent REIT completes $115M bought deal financing

On August 9, 2018, InterRent Real Estate Investment Trust (InterRent) successfully completed a public offering of 10,798,500 trust units from treasury, including the full exercise of the over-allotment option granted to the underwriters, for gross proceeds of $115,004,025. The offering was made on a bought deal basis pursuant to an underwriting agreement with a syndicate of underwriters co-led by Desjardins Capital Markets and Scotia Capital Inc. InterRent is engaged in increasing Unitholder value through the acquisition and ownership of multi-residential properties.

Gowling WLG (Canada) LLP advised InterRent on this offering with a team that included Michael Clancy, Bryce Kraeker and Radhika Vaidyanathan (corporate) and Steven Baum and Paul Carenza (tax). Harris Beach, PLLC represented InterRent on US securities law matters with a team consisting of Amanda Dwyer and Seth Hiland.

Norton Rose Fulbright Canada LLP represented the syndicate with a team that consisted of Evelyn Li, Bruce Sheiner, Mark Bissegger, Adrienne Oliver (tax), and Oliver Moore and Joshua Sprague (real estate).