Offering finances industrial property and office property acquisitions
By Devika Patel
Knoxville, Tenn., July 7 – True North Commercial Real Estate Investment Trust said it has arranged a C$2.5 million non-brokered private placement of trust units on July 4.
The company will sell 378,787 units at C$6.60 per unit, which is a 2.51% discount to the July 3 closing share price of C$6.77.
Proceeds will be used to acquire an industrial property in Hamilton, Ont., and an office property in Shediac, N.B.
The real estate investment trust is based in Toronto.
| Issuer: | True North Commercial Real Estate Investment Trust
|
| Issue: | Trust units
|
| Amount: | C$2.5 million
|
| Units: | 378,787
|
| Price: | C$6.60
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | July 4
|
| Stock symbol: | Toronto: TNT.UN
|
| Stock price: | C$6.77 at close July 3
|
| Market capitalization: | C$68.14 million
|
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