Pure Industrial Real Estate Trust closes $34.5 million bought deal

On January 27, 2011, Pure Industrial Real Estate Trust (TSXV: AAR.UN) announced the closing of its previously announced public offering of 8,625,000 trust units (inclusive of 1,125,000 Units issued pursuant to the exercise in full of the over-allotment option), on a bought deal basis, at a price of $4.00 per Unit for total gross proceeds of $34,500,000.

The offering was conducted through a syndicate of underwriters led by Canaccord Genuity Corp. and Dundee Securities Corporation, as co-lead underwriters, and including RBC Dominion Securities Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., GMP Securities L.P. and Macquarie Capital Markets Canada Ltd.

The underwriters were advised in this transaction by Fasken Martineau with a team that included Georges Dubé, Michael Shour and Kelly McTavish (corporate/securities) and Mitchell Thaw (tax).