Pure Multi-Family REIT LP closes $92.1 million equity offering

April 10, 2017

On April 7, 2017, Pure Multi-Family REIT LP (“Pure Multi-Family”) (TSXV: RUF.U, RUF.UN, RUF.DB.U) (OTCQX: PMULF) announced the closing of its previously announced public offering of Class A units, inclusive of units issued pursuant to the full exercise of the over-allotment option, on a bought deal basis for gross proceeds to Pure Multi-Family of approximately $92.1 million.

The offering was conducted through a syndicate of underwriters co-led by CIBC Capital Markets, Scotiabank and Canaccord Genuity Corp., with CIBC Capital Markets and Scotiabank as bookrunners, and included National Bank Financial Inc., RBC Capital Markets, GMP Securities L.P., Industrial Alliance Securities Inc., Echelon Wealth Partners Inc., Eight Capital, Laurentian Bank Securities Inc. and Raymond James Ltd.

Pure Multi-Family is a Canadian-based, publically traded vehicle which offers investors exclusive exposure to attractive, institutional quality U.S. multi-family real estate assets.

Miller Thomson advised the underwriters in this transaction with a team that included Peter McArthur and Kevin Sorochan (securities), Alizée Bilbey (real estate) and Gerald Courage (tax).