Whiterock REIT completes C$51.8 million offering of trust units

Torys acted as counsel to the syndicate of underwriters led by TD Securities Inc. with a team that included Simon Knowling, Bill Lamoureux, Adam Freedman, Raymond Archer, Corrado Cardarelli, Grace Pereira and Michael Fortier.

On March 9, 2010, Whiterock REIT (TSX: WRK.UN) completed its previously announced public equity offering of 3,015,000 trust units at C$14.95 per unit. The underwriters exercised their over-allotment option in full and purchased an additional 452,500 trust units for C$6.8 million for aggregate gross proceeds of approximately C$51.8 million.

The offering was completed on a bought deal basis through a syndicate of underwriters led by TD Securities Inc. and including CIBC World Markets Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., Canaccord Financial Ltd., National Bank Financial Inc., and Dundee Securities Corporation.

Whiterock used the net proceeds of the offering to repay indebtedness incurred in connection with the acquisition of a 49.9% equity interest in a C$214 million portfolio of office properties in the Greater Toronto Area and intends to use the remainder for general trust purposes.