Canadian real estate investment trust company Killam Apartment REIT has completed its public offering of trust units at a price of $17.10 per unit.
The company issued 5 million units, including 658,500 units on the exercise of an over-allotment option for gross proceeds of $86.3 million.
The offering was made pursuant to an underwriting agreement with a syndicate of underwriters led by RBC Capital Markets.
Killam Apartment plans to use the net proceeds to fully repay its credit facility, to fund future purchases and for general trust purposes.