Mr. Brian Pauls reports
DREAM INDUSTRIAL REIT COMPLETES $144 MILLION EQUITY OFFERING
Dream Industrial Real Estate Investment Trust has closed its previously announced equity offering of units of the trust at a price of $10.45 per unit. The syndicate of underwriters, led by TD Securities Inc., elected to exercise its overallotment option in full, resulting in a total of 13.8 million units being issued today for total gross proceeds of $144.21-million.
The trust intends to use the net proceeds from the offering to partially finance the purchase price of a portfolio of 21 buildings located in five cities across the Midwest United States and for general trust purposes. The balance of the purchase price will be financed from the trust's working capital and drawings on the trust's revolving credit facility. For more information, please refer to the trust's press release dated Feb. 4, 2019.
About Dream Industrial REIT
Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. Dream Industrial REIT owns and operates a portfolio of 223 geographically diversified light industrial properties comprising approximately 20.2 million square feet of gross leasable area located primarily in key markets across Canada with a growing presence in the United States.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.