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InterRent REIT grosses C$98M in bought-deal unit offering

InterRent Real Estate Investment Trust closed a bought-deal offering of 10,005,000 trust units at C$9.78 apiece, raising roughly C$97.8 million in gross proceeds.

The multifamily real estate investment trust said the underwriters fully exercised their overallotment option to acquire 1,305,000 additional trust units under the offering.

The company previously said the net proceeds will go toward existing debt repayment and future acquisitions, as well as for working capital and general trust purposes.

The syndicate of underwriters was co-led by Desjardins Capital Markets and BMO Nesbitt Burns Inc., and included 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.