Transaction|April 25, 2019
Dream Industrial REIT completes C$144 million equity offering
Torys acted as counsel to the syndicate of underwriters led by TD Securities with a team that included Rima Ramchandani, Josh Lavine and Selam Ibrahim (corporate/securities), Josh Daniels (real estate), Michael Fortier (environmental), Richard Johnson (tax) and Chris Bornhorst (U.S. securities).
On April 25, 2019, Dream Industrial REIT ("the Trust") announced the closing of its previously announced equity offering of units of the Trust at a price of $11.55 per unit. The syndicate of underwriters, led by TD Securities Inc., elected to exercise its over-allotment option in full, resulting in a total of 12,477,500 units being issued today for total gross proceeds of $144,115,125.
The Trust intends to use the net proceeds from the offering to fund four acquisitions in its target markets, to partially repay the outstanding balance on its revolving credit facility and for general trust purposes.
Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. Dream Industrial REIT owns and operates a portfolio of 244 geographically diversified industrial distribution and warehousing properties comprising approximately 23.7 million square feet of gross leasable area located in key markets across Canada and the U.S.
Further information can be found on Globe Newswire's website.
The Trust intends to use the net proceeds from the offering to fund four acquisitions in its target markets, to partially repay the outstanding balance on its revolving credit facility and for general trust purposes.
Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. Dream Industrial REIT owns and operates a portfolio of 244 geographically diversified industrial distribution and warehousing properties comprising approximately 23.7 million square feet of gross leasable area located in key markets across Canada and the U.S.
Further information can be found on Globe Newswire's website.