Killam Apartment REIT launched a bought-deal public offering of 3,345,000 trust units at C$14.95 apiece to raise gross proceeds of about C$50.0 million.
The Canadian residential landlord granted a 30-day overallotment option to the underwriters to buy 501,750 additional units.
The company plans to use net proceeds to completely repay its credit facility, to fund future acquisitions and developments, and for general trust purposes.
RBC Capital Markets will lead the syndicate of underwriters for the offering.
