InterRent REIT closes $115 million bought deal financing

On Aug. 9, 2018, InterRent Real Estate Investment Trust (TSX: IIP.UN) stated the closing of its previously announced public offering of 10,798,500 trust units from treasury, including the full exercise of the over-allotment option granted to the underwriters, for gross proceeds of $115,004,025.

The offering was made on a bought deal basis pursuant to an underwriting agreement with a syndicate of underwriters co-led by Desjardins Capital Markets and Scotia Capital Inc.

InterRent is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties. 

Gowling WLG advised InterRent on this offering with a team that included Michael Clancy, Bryce Kraeker and Radhika Vaidyanathan (corporate) and Steven Baum and Paul Carenza (tax).