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Firm Capital rakes in C$13M from equity offering

Firm Capital Property Trust closed its overnight marketed public offering of 2.1 million trust units for gross proceeds of roughly C$13.1 million.

The diversified real estate investment trust concurrently closed on the second tranche of its nonbrokered private placement, generating gross proceeds of around C$2.3 million.

The trust issued an aggregate 878,000 trust units for gross proceeds of about C$5.5 million in connection with the first tranche and second tranche of the concurrent private placement.

TD Securities Inc. led the syndicate of underwriters for the offering, which includes CIBC Capital Markets, Scotia Capital Inc., Canaccord Genuity Corp., GMP Securities LP, Desjardins Securities Inc., Echelon Wealth Partners Inc. and Industrial Alliance Securities Inc.