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Healthlease Properties Real Estate Investment Trust Announces Closing Of CAD68.8 Million Equity Financing


Tuesday, 23 Jul 2013 08:43am EDT 

Healthlease Properties Real Estate Investment Trust announced the closing of its previously announced public offering (the Offering) of 6,587,500 trust units (Units), inclusive of 837,500 Units issued pursuant to the exercise of the over-allotment option, on a bought deal basis, at a price of CAD10.45 per Unit for total gross proceeds of CAD68,839,375. The Offering was conducted through a syndicate of underwriters led by BMO Capital Markets and Canaccord Genuity Corp. and including National Bank Financial Inc., CIBC World Markets Inc., Scotia Capital Inc., Dundee Securities Ltd., Raymond James Ltd., Desjardins Securities Inc. and GMP Securities L.P. BMO Capital Markets and Canaccord Genuity Corp. acted as joint-bookrunners for the Offering. HealthLease intends to use the net proceeds from the Offering to partially fund the previously announced acquisitions (the Acquisitions) of two senior housing and care property portfolios, with one of the portfolios located in Ohio, Virginia, and North Carolina totaling 495 beds and the other portfolio located in Albertatotaling 468 beds, to provide mezzanine financing in respect of two properties in Alberta under development, which are expected to have 283 beds once construction is completed, and for general trust purposes. HealthLease's Units are listed on the Toronto Stock Exchange under the symbol HLP.UN.