Key facts
- PROREIT will acquire 17 industrial assets for $136.8 million.
- PROREIT plans a $72.5 million bought deal public offering of trust units.
- A concurrent private placement aims to raise an additional $21.7 million.
PROREIT has announced significant strategic moves involving both acquisitions and capital raises. The company has entered into agreements to purchase 17 industrial properties, with the total purchase price amounting to $136.8 million. To finance these acquisitions and for general corporate purposes, PROREIT is launching a bought deal public offering of its trust units, aiming to raise $72.5 million. Additionally, a concurrent private placement is expected to bring in another $21.7 million. These transactions are expected to bolster PROREIT's industrial real estate portfolio.