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Pure Industrial closes C$230M unit offering

Pure Industrial Real Estate Trust closed its underwritten public offering of 35,937,500 class A trust units at C$6.40 per unit, generating aggregate gross proceeds of C$230.0 million.

The underwriters fully exercised their option to purchase an additional 4,687,500 units.

The company aims to use the proceeds to fund a portion of the planned purchase of eight income-producing properties.

The offering was carried out through a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets on their own behalf and on behalf of CIBC World Markets Inc., Scotia Capital Inc., National Bank Financial Inc., Canaccord Genuity Corp., Desjardins Securities Inc., TD Securities Inc., Raymond James Ltd., GMP Securities LP, Eight Capital and Industrial Alliance Securities Inc.