DUNDEE REIT announced Thursday it is increasing the size of its domestic public offering of REIT units, Series A, to meet investor demand.

The size of the offering, which was announced Wednesday, has been increased to 3.35 million units from 2.75 million units. The gross proceeds of the offering will now be $61,472,500 based on the offering price of $18.35 per unit.

Dundee REIT has granted the syndicate an over-allotment option, exercisable for a period of 30 days following closing, to purchase up to an additional 502,500 units which, if exercised, would increase the gross offering size to $70,693,375.

The offering is scheduled to close September 9, and is subject to regulatory approval.

The offering is being underwritten by a syndicate of investment dealers led by TD Securities Inc.

Dundee REIT is an unincorporated, open-ended real estate investment trust. It is focused on owning, acquiring, leasing and managing mid-sized urban and suburban office and industrial properties in Canada.

IE