New Issue: Lanesborough REIT plans C$20 million private placement

By Sheri Kasprzak

Atlanta, Nov. 2 - Lanesborough Real Estate Investment Trust said Tuesday it will enter the private placement market with a C$20 million offering.

The deal consists of trust units and is scheduled to close later this month. The units cannot be resold for four months after close.

Westwind Partners Inc. will serve as placement agent in the offering.

Winnipeg-based Lanesborough is a real estate investment trust. It plans to use the proceeds from the offering for the purchase of five multifamily apartment complexes and other properties.

Additional details on the deal will be announced later, according to the company.

Lanesborough's stock closed at C$4.70 Oct. 27, its last trade.

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