TORONTO--(BUSINESS WIRE)--Agellan Commercial Real Estate Investment Trust (the “REIT”) (TSX: ACR.UN) announced today the closing of the previously-announced plan of arrangement pursuant to which Elad Genesis Limited Partnership (“Elad”), among other things, acquired all of the outstanding trust units of the REIT (“Trust Units”), other than Trust Units already owned by Elad or its affiliates, for $14.25 per Trust Unit in cash (the “Transaction”).
Consideration for the purchased Trust Units has been paid to Computershare Investor Services Inc., as depositary under the Transaction (the “Depositary”), and will be forwarded to former holders of purchased Trust Units as soon as reasonably practicable after the date hereof (or, in the case of registered holders of purchased Trust Units, as soon as reasonably practicable after a properly completed and signed letter of transmittal is received by the Depositary together with the unit certificate(s) and/or Direct Registration System (DRS) Advice(s) representing such purchased Trust Units).
As a result of the Transaction, the Trust Units will be de-listed from the Toronto Stock Exchange shortly and the REIT will apply to cease to be a reporting issuer in all of the provinces and territories of Canada.
About Agellan Commercial Real Estate Investment Trust
The REIT is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been created for the purpose of acquiring and owning industrial, office and retail properties in select target markets in the United States and Canada.
Additional information about the REIT is available at www.agellancommercialreit.com or www.sedar.com.