Vancouver (pcJ News Briefs) – Pure Multi-Family REIT LP (TSX-V: RUF.U; RUF.UN, RUF.DB.U; OTCQX: PMULF) has completed its previously announced public offering of 10,343,100 Class A units, inclusive of 1,349,100 units issued pursuant to the full exercise of the over-allotment option, at CDN $8.90 per unit for gross proceeds of CDN $92,053,590.
The offering was conducted through a syndicate of underwriters co-led by CIBC Capital Markets, Scotiabank and Canaccord Genuity Corp., with CIBC Capital Markets and Scotiabank as bookrunners, and included National Bank Financial Inc., RBC Capital Markets, GMP Securities L.P., Industrial Alliance Securities Inc., Echelon Wealth Partners Inc., Eight Capital, Laurentian Bank Securities Inc. and Raymond James Ltd.
Clark Wilson LLP and Miller Thomson LLP acted as legal counsel to the REIT and the agents respectively.
Pure Multi-Family intends to use the net proceeds to fund future acquisitions of high-quality, strategically located and well-maintained Class A apartment properties in major US Sunbelt markets that exhibit strong population and economic growth trends, and for working capital and general partnership purposes.
Pure Multi-Family is a Canadian based, publicly traded vehicle which offers investors exclusive exposure to attractive, institutional quality U.S. multi-family real estate assets.
photo credit: Pure Multi-Family