Retrocom Real Estate Investment Trust completes C$52 million offering of trust units

On August 6, 2014, Retrocom Real Estate Investment Trust (the "REIT") closed its public offering of 10,500,000 trust units, at a price of C$4.30 per unit for gross proceeds of approximately C$45 million.

The units were sold to a syndicate of underwriters led by TD Securities Inc. on a bought deal basis. Concurrent with the closing of the offering, the syndicate of underwriters also exercised their over-allotment option to purchase an additional 1,575,000 units at the same offering price for aggregate gross proceeds of approximately C$52 million.

The net proceeds from the offering are expected to be used to partially fund the REIT's acquisition of seven investment properties from Calloway Real Estate Investment Trust and two investment properties from Wal-Mart Canada Realty Inc. and SmartCentres Realty Inc.

Retrocom REIT is an unincorporated, open-end real estate investment trust which focuses on owning and acquiring retail properties across Canada with the goal of enhancing long-term unitholder value.

Further information can be found on Canada Newswire's website.