Dream Industrial REIT closed the bought-deal offering of its units, raising a total of about C$172.6 million.

The underwriters exercised the over-allotment option in full, resulting in the issuance of 12,834,000 units at C$13.45 apiece.

The real estate investment trust will also sell 325,000 of its units to Michael Cooper and Brian Pauls in a private placement, expected to be completed in mid-December.

Dream currently has approximately C$136 million of acquisitions in Kitchener and Greater Toronto and about C$29 million of development opportunities under contract or in exclusive negotiations.