VANCOUVER, British Columbia, Oct. 29, 2024 (Globe Newswire) — Anthem Property Group successfully completes Canada’s first initial public offering of its kind at 66 storeys through Anthem Citizen Real Estate Development Trust (REDT) It ended in , a Burnaby, British Columbia-based mixed-use development, Citizen (through the offering of units of Anthem Citizen Real Estate Development Trust (the “IPO”)).
The IPO met CDN’s fundraising goal of $82 million. Anthem worked on this offering with CIBC Capital Markets, which acts as sole agent and has a track record of completing real estate development IPOs of U.S. assets.
“The completion of this funding is a win for the Anthem team on many fronts,” said Eric Carlson, Anthem core founder and CEO. “This will provide access to housing units in our community, including much-needed market and affordable rentals, in an architecturally significant, mixed-use, 66-story tower. Financially, the IPO of a single-asset mutual fund trust represents a creative and unique solution to raise the funds needed to make this project a reality. is. ”
With a mix of market, rental and affordable housing, anchored by a hotel and supported by retail space, Citizen is expected to become a premier destination in Burnaby’s Metrotown. Anthem has a productive and positive working relationship with the City of Burnaby, which is passionate about creating great spaces that encourage residents and businesses to choose the city they call home. The project has completed zoning approvals and entitlements and construction is underway.
Background on the IPO, including investor relations materials and past REDT press releases, can be found at www.citizenbyanthemdevtrust.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy REDT’s securities in the United States, and does not constitute an offer to sell or a solicitation of an offer to buy REDT’s securities in the United States, and does not constitute an offer to sell or a solicitation of an offer to buy REDT’s securities in the United States, and does not constitute an offer to sell or a solicitation of an offer to buy REDT’s securities in the United States, and does not constitute an offer to sell or a solicitation of an offer to buy REDT’s securities in the United States. It doesn’t exist. It will be illegal. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”). Additionally, it may not be offered or sold in the United States unless registered under the U.S. securities laws. Subject to applicable state securities laws or exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.
About Anthem properties
Anthem is a real estate development, investment and management company that strives, solves and evolves to create better spaces and stronger communities, with more than 385 residential, commercial and retail projects under its belt. Founded in 1991, Anthem is a team of 800 with a diverse portfolio of 41,700 residential units, 11.5 million square feet of retail, industrial and office space, and 9,800 acres in Alberta, British Columbia. We have developed over 60 communities on our land. , Ontario and California. This is where we grow.
contact:
Elisha McCallum
Vice President of Communications
Phone: 604.488.3612 Mobile: 778.668.0185
Email: emccallum@anthemproperties.com
