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Scott's REIT completes initial public offer

Date Closed

October 6, 2005

Lead Office



50.00 Million CAD

On October 6, 2005, Scott's Real Estate Investment Trust (Scott's REIT) completed a $50 million initial public offering of its units and entered into a $65 million mortgage loan to acquire 190 retail properties from Scott's Restaurants Inc. and Yum! Brands Canada Management LP. The underwriting syndicate on the initial public offering was led by BMO Nesbitt Burns Inc. and included CIBC World Markets Inc., Genuity Capital Markets, RBC Dominion Securities Inc., Desjardins Securities Inc. and Canaccord Capital Corp. The mortgage loan was made through Computershare Trust Company of Canada.

The underwriters and the lender were represented by McCarthy Tétrault LLP with a team that included Andrew Armstrong and Wendi Locke (corporate/securities), James Morand (tax), Fred Rubinoff and Bram Green (real estate) and William McCullough and Tzen-Yi Goh (banking).