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CAPREIT closes overallotment option in C$288M unit offering

The underwriters in Canadian Apartment Properties Real Estate Investment Trust's 5.5 million-unit offering fully exercised their overallotment option to purchase an additional 825,000 units for gross proceeds of about C$37.5 million.

The units were offered at C$45.50 apiece, and gross proceeds for the entire offering came to about C$287.8 million.

RBC Capital Markets led the syndicate of underwriters for the offering.