Primaris Retail REIT
TSX : PMZ.UN

Primaris Retail REIT

August 04, 2005 11:14 ET

Primaris Retail Reit Closes $85.4 Million Public Offering Of Trust Units

TORONTO, ONTARIO--(CCNMatthews - Aug. 4, 2005) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

Primaris Retail REIT (TSX:PMZ.UN) announced today that it has completed an issuance to the public of 5,750,000 trust units (the "Units") for $14.85 per Unit for gross proceeds of approximately $85.4 million, pursuant to a final short form prospectus dated July 27, 2005, through a syndicate of underwriters co-led by RBC Capital Markets and CIBC World Markets. The proceeds of the offering will be used to repay existing indebtedness under Primaris' existing operating facilities and for general trust purposes.

The press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction. The Units being offered have not been and will not be registered under the U.S. Securities Act of 1933 and state securities laws. Accordingly, the Units may not be offered or sold to U.S. person except pursuant to applicable exemptions from registration.

Launched in July 2003, Primaris Retail REIT owns dominant shopping centres in growing midsize markets and regional malls in the sub-markets of large metropolitan areas. A TSX listed real estate investment trust, it had 44,182,908 units issued and outstanding as of August 4, 2005.

Contact Information

  • Primaris Retail REIT
    R. Michael Latimer
    Chief Executive Officer
    (416) 865-5353
    or
    Primaris Retail REIT
    Louis M. Forbes
    Senior Vice President and Chief Financial Officer
    (416) 865-5360