Dream Residential REIT completes US$125.1 million initial public offering of units
Torys acted as counsel to the syndicate of underwriters led by TD Securities with a team that included Rima Ramchandani, Brett Saulnier, Parker Baglole, Alisse Elliott and Andrea Das-Wieczorek (corporate/securities), Andy Gibbons, Alex Tanenbaum and Scarlett O’Shea (real estate), Michael Fortier (environmental), Corrado Cardarelli, Andrew Wong and Benjamin Mann (Canadian tax), Scott Semer and Peter Keenan (U.S. tax).
On May 6, 2022, Dream Residential REIT (the “REIT”) announced that it completed its initial public offering of 9,620,000 units of the REIT at a price of US$13.00 per unit. The offering raised gross proceeds of US$125,060,000. The units will trade on the Toronto Stock Exchange in U.S. dollars under the symbol "DRR.U".
The offering was underwritten by a syndicate of underwriters led by TD Securities Inc., together with Scotia Capital Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., National Bank Financial Inc., Canaccord Genuity Corp., Desjardins Capital Markets, Cormark Securities Inc., Echelon Wealth Partners Inc., iA Private Wealth Inc., Laurentian Bank Securities Inc. and Raymond James Ltd.
Further information can be found on Canada Newswire’s website.
Dream Residential REIT is a newly created, unincorporated, open-ended real estate investment trust established and governed by the laws of the Province of Ontario.