Multifamily-focused InterRent Real Estate Investment Trust priced a bought deal equity offering of 8.7 million trust units at C$9.78 apiece, according to a preliminary short-form prospectus.
The offering, which was announced March 8, is expected to generate gross proceeds of roughly C$85.1 million. The underwriters may buy an additional 1,305,000 trust units for roughly C$12.8 million by exercising a 30-day overallotment option.
The offering is expected to close March 28.
Desjardins Capital Markets and BMO Capital Markets co-led a syndicate of underwriters for the offering that includes RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., CIBC World Markets Inc., Industrial Alliance Securities Inc., National Bank Financial Inc., Raymond James Ltd., Echelon Wealth Partners Inc. and GMP Securities LP.
