Dundee International REIT C$92.9 million completes treasury offering and secondary offering of units

Torys acted as counsel to the underwriters with a team that included Simon Knowling, Rima Ramchandani, Christian Thatcher and Marko Trivun (corporate/securities), Rose Bailey (real estate), Michael Fortier (environmental), Corrado Cardarelli and Grace Pereira (tax) and Christopher Roehrig (U.S. securities).

On April 17, 2012, Dundee International Real Estate Investment Trust (the REIT) (TSX: DI.UN) announced the completion of the REIT's bought deal treasury offering of 4,600,000 units of the REIT (the Treasury Units) at a price of $10.10 per unit for gross proceeds of C$46.46 million and the bought deal secondary offering by LSF REIT Holdings S.à r.l., an affiliate of Lone Star Real Estate Fund (U.S.) L.P. (the Selling Unitholder) of 4,600,000 units of the REIT (the Secondary Units) at a price of $10.10 per unit for gross proceeds of approximately C$46.46 million. Pursuant to an over-allotment option that was exercised by the underwriters in full at closing, the Treasury Units included 600,000 units of the REIT issued by the REIT and the Secondary Units included 600,000 units of the REIT sold by the Selling Unitholder.

The offering was led by TD Securities Inc. and included Scotia Capital Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Canaccord Genuity Corp., Dundee Securities Ltd., Brookfield Financial Corp., GMP Securities L.P., HSBC Securities (Canada) Inc. and National Bank Financial Inc. The net proceeds from the offering received by the REIT for the Treasury Units will be used to fund potential future acquisitions and for general trust purposes. The REIT did not receive any proceeds for the Secondary Units sold by the Selling Unitholder.

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