On August 4, 2005, Westfield Real Estate Investment Trust completed a private placement of 57,143,500 units at $0.70 per unit and subordinate debentures in the aggregate principal amount of $15 million for aggregate proceeds of $55,000,450 through Canaccord Capital Corp. as lead agent and Bieber Securities Inc. as agent. The debentures are governed by a trust indenture between Westfield REIT and CIBC Mellon as indenture trustee. Westfield REIT intends to use the proceeds of the offering to satisfy the cash portion of the purchase price for the acquisition of 11 properties for approximately $133 million.
Westfield REIT was represented by Richmond Bayes of Aikins, MacAulay & Thorvaldson LLP. Goodmans LLP acted as counsel to Canaccord with a team led by Stephen Pincus and Seymour Temkin that included William Gorman, Pollyanna Lord (corporate) and Ira Barkin (commercial real estate).
Westfield REIT was represented by Richmond Bayes of Aikins, MacAulay & Thorvaldson LLP. Goodmans LLP acted as counsel to Canaccord with a team led by Stephen Pincus and Seymour Temkin that included William Gorman, Pollyanna Lord (corporate) and Ira Barkin (commercial real estate).
