On August 16, 2019, PRO Real Estate Investment Trust (PROREIT) completed a $57.6 million public offering of trust units on a bought deal basis. PROREIT intends to use the net proceeds from the offering to partially fund the acquisition of seven properties, to repay certain indebtedness and for general business and working capital purposes.
PROREIT is an unincorporated open-ended real estate investment trust owning a diversified portfolio of 84 commercial properties across Canada representing over 3.7 million square feet of gross leasable area.
Osler, Hoskin & Harcourt LLP advised PRO Real Estate Investment Trust with a team consisting of Bastien Gauthier (Corporate) and Etienne Massicotte and Mikulas Arendas (Banking and Financial Services).