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Killam Apartment REIT launches C$101M bought-deal trust unit offering

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Killam Apartment REIT launches C$101M bought-deal trust unit offering

Killam Apartment REIT launched a bought-deal offering of 5,050,000 trust units at C$19.90 apiece to raise gross proceeds of approximately C$100.5 million.

The Canadian multifamily real estate investment trust granted the underwriters a 30-day overallotment option to acquire up to 757,500 additional units.

The company aims to use the net proceeds to fully repay its credit facility, to finance future acquisitions and developments and for general trust purposes.

RBC Capital Markets is leading the syndicate of underwriters for the public offering, which is expected to close on or about Nov. 4.