KingSett Real Estate Growth LP No. 5

KingSett Real Estate Growth LP No. 5

November 26, 2014 22:28 ET

KingSett Real Estate Growth LP No. 5 Acquires Trust Units of InnVest REIT

TORONTO, ONTARIO--(Marketwired - Nov. 26, 2014) - KingSett Real Estate Growth LP No. 5 ("KS") announced today that in connection with the announcement by InnVest Real Estate Investment Trust that it has closed its previously announced public offering of trust units ("Units"), on a bought deal basis, and concurrent private placements of Units from certain of its largest unitholders, KS acquired 5,520,000 Units representing approximately 4.8% of the outstanding Units, at a price of $5.25 per Unit for an aggregate purchase price of $28,980,000. The Units were acquired pursuant to a subscription agreement on a private placement basis. After giving effect to the transaction, KS has control and direction over a total of 15,536,366 Units, representing approximately 13.4% of the outstanding Units. The Units were acquired in the ordinary course of business, for investment purposes only.

Contact Information

  • KingSett Real Estate Growth LP No. 5
    Jon Love
    Managing Partner
    (416) 687-6788