Summit Real Estate Investment Trust completed a new public offering 4,727,800 units at $17.45 per unit for total gross proceeds of $85,500,110. The co-lead underwriters were CIBC World Markets Inc. and BMO Nesbitt Burns Inc., and the underwriting syndicate included RBC Dominion Securities Inc., Scotia Capital Inc., National Bank Financial, TD Securities Inc. and Canaccord Capital Corp. The deal closed on December 11, 2003. The net proceeds of the offering will be used to reduce the REIT’s outstanding indebtedness under certain credit facilities and individual property mortgages.
The REIT was represented by Gary Kissack and Michael Winton of Goodman and Carr LLP. The underwriters were represented by Graham Gow and Ian Michael (corporate finance and mergers and acquisitions) of McCarthy Tétrault LLP.
The REIT was represented by Gary Kissack and Michael Winton of Goodman and Carr LLP. The underwriters were represented by Graham Gow and Ian Michael (corporate finance and mergers and acquisitions) of McCarthy Tétrault LLP.
