On January 23, 2019, SmartCentres Real Estate Investment Trust completed its previously announced equity offering, for gross proceeds of $230 million.
SmartCentres intends to use the proceeds to fund, in part, its previously announced development programs with respect to the Vaughan Metropolitan Centre, seniors housing, self-storage, multi-family residential, retail and other initiatives.
SmartCentres, headquartered in Vaughan, Ontario, is one of Canada's largest real estate investment trusts with total assets of approximately $9.4 billion.
Osler, Hoskin & Harcourt LLP represented SmartCentres with a team led by Chris Murray (Corporate) that included Tara Law (Corporate Counsel), Charlie Zilvytis (Corporate) and Jack Silverson (Tax).