Agellan Commercial REIT completes C$55 million bought deal financing

On February 27, 2017 , Agellan Commercial Real Estate Investment Trust (the "REIT") announced that it closed its previously announced bought deal public offering of 4,807,000 units of the REIT at a price of C$11.45 per unit, for aggregate gross proceeds of approximately C$55 million. The units were sold to a syndicate of underwriters led by RBC Capital Markets and BMO Capital Markets. The closing included 437,000 units issued as a result of the exercise in full of the underwriters' over-allotment option.

The REIT intends to use the net proceeds from the offering to repay approximately US$9 million of outstanding mortgage debt as well as certain indebtedness owing under the REIT's existing credit facilities, and the remainder to fund potential future acquisitions and for general business purposes.

Agellan Commercial REIT is an unincorporated, open-ended real estate investment trust established for the purpose of acquiring and owning industrial, office and retail properties in select target markets in the United States and Canada.

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