On January 6, 2005, Northern Property REIT completed a $40 million offering of 2.49 million trust units (including 315,000 units issued on the exercise in full of an over-allotment option) in all provinces and territories of Canada. The offering was underwritten by a syndicate of underwriters led by CIBC World Markets Inc. and including BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and Canaccord Capital Corp. The net proceeds of the offering were used by Northern Property REIT to pay down a credit facility and to finance a portion of the purchase price of residential properties in Grande Prairie, Alberta.
Northern Property REIT was represented by Borden Ladner Gervais LLP with a team that included Fred R. Pletcher, Diana Horsman, Scott Iredale and Melanie Bradley (securities) and Robert Kopstein (tax).
The underwriters were represented by Torys LLP with a team that included Patricia Koval, Christopher Fowles and Andrew Lannon (securities) and Lucia ten Kortenaar (tax).
Northern Property REIT was represented by Borden Ladner Gervais LLP with a team that included Fred R. Pletcher, Diana Horsman, Scott Iredale and Melanie Bradley (securities) and Robert Kopstein (tax).
The underwriters were represented by Torys LLP with a team that included Patricia Koval, Christopher Fowles and Andrew Lannon (securities) and Lucia ten Kortenaar (tax).
