On July 11, 2017, True North Commercial Real Estate Investment Trust (the “REIT”) (TSX: TNT.UN) closed a bought deal offering of trust units which raised aggregate gross proceeds of $32,150,000. This figure included proceeds from the exercise the following week of the over-allotment option granted to the syndicate of underwriters led by CIBC Capital Markets and Raymond James Ltd.
The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. It currently owns and operates a portfolio of 33 commercial properties consisting of approximately 2.2 million square feet in urban cities and select secondary markets across Canada focusing on long term leases with government and credit-rated tenants.
Miller Thomson advised the REIT in this offering with a team that included Lawrence Wilder, Mack Hosseinian, Jonathan Tong, Shayne Barrie and Konstantin Starostin (securities) and Ron Choudhury and Neil Gurmukh (tax).