Retrocom Mid-Market Real Estate Investment Trust

Retrocom Mid-Market Real Estate Investment Trust

June 23, 2005 18:05 ET

Retrocom Mid-Market REIT Announces Filing of Preliminary Prospectus for Public Offering

TORONTO, ONTARIO--(CCNMatthews - June 23, 2005) -


Retrocom Mid-Market Real Estate Investment Trust (the "REIT")(TSX:RMM.UN) announced today that it has filed a preliminary short form prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with a proposed public offering of its Units to raise approximately $71.5 million.

CIBC World Markets Inc. will lead an underwriting syndicate that also includes TD Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., Canaccord Capital Corporation and Desjardins Securities Inc.

The net proceeds of the offering will be used by the REIT to satisfy a portion of the purchase price payable to RioCan Real Estate Investment Trust in connection with the previously announced proposed acquisition by the REIT of a portfolio of seven properties, to fund transaction costs necessary to close the acquisition and to pay down a portion of the amount outstanding under the REIT's operating facility. The closing of the offering, which remains subject to unitholder and regulatory approvals, is expected to occur on July 14, 2005 and will be contemporaneous with the closing of the acquisition.

Retrocom Mid-Market REIT is an Ontario unincorporated open-end real estate investment trust which focuses on owning and acquiring mid-market commercial properties in primary and secondary cities across Canada with the objective of producing a geographically diversified portfolio of properties with stable and growing cash flows. Further information can be found at

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, which may be made only by means of a prospectus, nor shall there be any sale of the Units in any state, province or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of any such state, province or other jurisdiction. The Units of the Retrocom Mid-Market REIT have not been, and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or delivered in the United States absent registration or an application for exemption from the registration requirements of U.S. securities laws.

Contact Information

  • Retrocom Mid-Market REIT
    Paul McKenna
    Investor Relations
    (416) 745-5775
    (416) 745-5766 (FAX)