A&B Advises Allied Properties Real Estate Investment Trust in $126 Million Public Equity Offering

A&B represented Allied Properties Real Estate Investment Trust (REIT), a leading owner, manager and developer of urban office environments operating in Canada’s major cities, in its recently completed $126 million public equity offering of units.

On March 7, 2012, Allied Properties REIT completed an offering of 3,691,500 units (inclusive of 481,500 units issued pursuant to the exercise in full of the underwriters’ over-allotment option) at a price of $34.30 per unit for gross proceeds of just over $126 million. Allied intends to use the entire net proceeds of the offering to fund the acquisition of Vintage I & II, Calgary, with the balance to be used for general trust purposes.

The A&B team representing Allied Properties REIT was comprised of Margaret Nelligan, Sherri Altshuler and Melanie Cole (corporate and securities), Barbara Worndl (tax) and Mike Smith and Steven Pavlides (real estate).