On March 30, 2022, Sustainable Real Estate Dividend Fund (the “Fund”), completed an initial public offering of 2,500,000 units at a price of C$10.00 per unit for gross proceeds of C$25 million (the “Offering”).
The Fund’s investment objectives are to provide holders of units with stable monthly cash distributions and enhanced long-term total return through capital appreciation of the Fund’s investment portfolio through a diversified, actively managed portfolio comprised primarily of dividend paying securities of international issuers focused on, involved in, or that derive a significant portion of their revenue from business models that are creating and transforming the green property and related sectors by employing or developing sustainable property management practices or materials. The Advisor will integrate environmental, social and governance considerations to complement fundamental analysis in selecting such issuers for the portfolio that the Advisor believes have competitive advantages (collectively, “Sustainable Real Estate Issuers”).
In addition, Middlefield Capital Corporation (the "Advisor") will provide investment management advice to the Fund.
The syndicate of agents was co-led by CIBC Capital Markets and RBC Capital Markets, and included Scotiabank, BMO Capital Markets, Canaccord Genuity Corp., Raymond James Ltd., TD Securities Inc., iA Private Wealth Inc., National Bank Financial Inc., Manulife Securities Incorporated, Echelon Wealth Partners Inc., Hampton Securities Limited, Middlefield Capital Corporation, Richardson Wealth Limited, Research Capital Corporation and Wellington-Altus Private Wealth Inc.
Middlefield Limited, the manager of the Fund, was advised by Fasken with a team that consisted of Stephen Erlichman, Daniel Fuke and George Soules (Securities, Investment Products and Wealth Management) and Mitchell Thaw (Tax).