Cominar Pays $697M For Montreal, Ottawa Properties

Law360, New York (July 30, 2012, 9:41 PM EDT) -- Cominar Real Estate Investment Trust has scooped up a portfolio of 68 industrial and office properties in Montreal and Ottawa from a GE Capital Real Estate unit for $697 million in an effort to diversify its asset collection, the REIT announced Monday.

Cominar, Canada's third-largest REIT, intends to finance the purchase with a mix of debt, the assumption of a $30 million mortgage on four of the properties, and the issuance of up to $287.5 million in a trust unit offering that will be underwritten by...
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