On March 1, 2018, True North Commercial Real Estate Investment Trust (the “REIT”) (TSX: TNT.UN) announced that it had closed its previously announced bought deal offering of trust units with a syndicate of underwriters led by CIBC Capital Markets and Raymond James Ltd. An aggregate of 6,325,000 units were issued by the REIT, including 825,000 units issued on the full exercise of the underwriters’ over-allotment option, for aggregate gross proceeds of approximately $40.3 million.
The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 40 commercial properties consisting of approximately 3.05 million square feet in urban and strategic 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, Victoria de Luna and Abid Ahmed (securities) and Ron Choudhury and Neil Gurmukh (tax).
