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Prime US REIT Private Placement Raises US$59.6 Million

Prime US REIT Private Placement Raises US$59.6 Million

June 25, 2021 – Prime US REIT announced the launch of a placement of new Units at an issue price between US$0.797 and US$0.822 per New Unit in PRIME.

The Private Placement of US$80 million comprising the issuance of 98,766,000 New Units was well-subscribed with strong demand from both existing Unitholders and new investors with a good mix of long-only institutional investors, multi-strategy funds, family offices, and private wealth clients.

Institutional investors accounted for over half the demand and final allocations, accompanied by strong private wealth and family office interest.

Ms. Barbara Cambon, Chief Executive Officer and Chief Investment Officer of the Manager of PRIME, said, “We are pleased to deliver on our growth objectives through these accretive acquisitions of high-quality assets that enhance Unitholders’ value. We were uncompromising in our selection of assets to enhance our portfolio exposure to secular trends in growth cities, key sectors and quality assets. This benefits Unitholders in the form of added income resiliency and portfolio diversity.”

Read more here..

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