Killam Apartment REIT

The Underwriters in Killam Apartment REIT’s $57.5 Million public offering

Client

The Underwriters

Value

$57.5 million

Service

Capital Markets

Date Closed

June 2018

Industry

REITs

Lead Office

Toronto


 

On June 26, 2018, Killam Apartment REIT closed its previously announced $57.5 Million public offering of trust units on a bought-deal basis. The offering was made pursuant to an underwriting agreement with a syndicate of underwriters led by RBC Capital Markets, and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., National Bank Financial Inc., Raymond James Ltd., BFIN Securities LP, Echelon Wealth Partners Inc. and Industrial Alliance Securities Inc.

Killam intends to use the net proceeds from the Offering to fully repay its credit facility, to fund future acquisitions and for general trust purposes.

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada’s largest residential landlords, owning, operating, managing and developing a $2.5 billion portfolio of apartments and manufactured home communities.

Osler, Hoskin & Harcourt LLP advised the underwriters, led by RBC Capital Markets, with a team consisting of Chris Murray and Rosalind Hunter (Corporate) and David Davachi (tax).


Team
Rosalind  Hunter

Rosalind Hunter

Partner, Corporate

David Davachi

David Davachi

Partner, Taxation