Morguard North American Residential REIT Announces Completion of its Previously Announced Public Offering of $60 Million of Trust Units

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[{"type":"text","content":"\n\n\n\nMorguard North American Residential REIT Announces Completion of its Previously Announced Public Offering of $60 Million of Trust Units\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, Jan. 9, 2017\n\n\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/ \n\n\n\nMISSISSAUGA, ON, Jan. 9, 2017 /CNW/ - Morguard North American Residential Real Estate Investment Trust (the \"REIT\") (TSX: MRG.UN) announced today that it has completed its previously announced public offering with a syndicate of underwriters, co-led by RBC Capital Markets and TD Securities, on a bought deal basis, of 4,370,000 trust units (the \"Units\") at a price of $13.75 per Unit representing gross proceeds of $60,087,500 (the \"Offering\").\n\nAs part of the transaction, Morguard Corporation purchased $10,037,500 of the Units being offered, being 730,000 Units, at the offering price. Morguard Corporation currently holds an approximate 46.0% effective interest in the REIT through ownership of Units and Class B LP Units. \n\nThe net proceeds from the Offering will be used to fund future acquisitions, repay debt and for general trust purposes.\n\nCopies of the REIT's short form prospectus are available on SEDAR at www.sedar.com.\n\nThe Units have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, \"U.S. persons\" (as defined in Regulation S under the United States Securities Act of 1933, as amended). This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Units in the United States or to, or for the account or benefit of, U.S. Persons. \n\nAbout Morguard North American Residential REIT \n\nThe REIT is an unincorporated, open-ended real estate investment trust which owns, through a limited partnership, interests in a portfolio of 15 Canadian residential apartment communities, located in Alberta and Ontario, a...

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