InterRent REIT completes $80M bought deal

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By CPE News

Ottawa (pcJ News Briefs) – InterRent Real Estate Investment Trust (TSX: IIP.UN) has closed previously announced public offering of 10,425,000 trust units, including the full exercise of the over-allotment option granted to the underwriters, at a price of $7.68 per unit for gross proceeds of $80,064,000.

The offering was made on a bought deal basis pursuant to an underwriting agreement with a syndicate of underwriters with BMO Nesbitt Burns Inc., as lead underwriter and which included Canaccord Genuity Corp., Desjardins Securities Inc., GMP Securities L.P., Scotia Capital Inc., TD Securities Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Industrial Alliance Securities Inc., National Bank Financial Inc., Raymond James Ltd., Echelon Wealth Partners Inc. and Eight Capital.

InterRent is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.

photo credit: InterRent REIT