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TORONTO, Aug. 8, 2012 /CNW/ - KEYreit (TSX: KRE.UN) ("KEYreit" or the "REIT") today announced, in connection with its recently announced public offering of 1,640,000 trust units of the REIT ("Trust Units") that it has completed the issuance of an additional 246,000 Trust Units (the "Additional Units" and together with the Trust Units, the "Units") at a price of $6.10 per Additional Unit for gross proceeds of $1,500,600. The Additional Units were issued pursuant to the exercise in full of the over-allotment option granted to a syndicate of underwriters led by National Bank Financial Inc. and including Canaccord Genuity Corp., Dundee Securities Ltd. and Macquarie Capital Markets Canada Ltd.
The public offering closed today with a total of 1,886,000 Units issued by KEYreit for gross proceeds of $11,504,600.
The net proceeds from the offering will be used to fund the acquisition of three retail properties announced on August 7, 2012 and for general trust purposes.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful and is not an offering of securities for sale in the United States. The securities being offered have not been and will not be registered under the U.S. Securities Act of 1933 as amended and may not be offered or sold in the United States absent registration or pursuant to applicable exemption from registration.
KEYreit (TSX:KRE.UN) (formerly Scott's Real Estate Investment Trust) is Canada's premier small-box retail property owner with 229 properties in eight provinces across Canada. KEYreit's properties are well located and geographically diverse across Canada with the majority of all properties containing long-term quadruple net leases. To find out more about KEYreit (TSX:KRE.UN), visit our website at www.keyreit.com.
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