Anthem: Anthem Successfully Closes on First Real Estate Development Trust IPO on a Canadian Asset

VANCOUVER, British Columbia, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Anthem Properties Group, through the Anthem Citizen Real Estate Development Trust (REDT), has successfully closed on the first Canadian initial public offering of its kind on its 66-storey, mixed-use development, Citizen, based in Burnaby, BC (by way of an offering of units of Anthem Citizen Real Estate Development Trust) (the "IPO")).The IPO reached its $82M CDN target raise. Anthem worked on this offering with CIBC Capital Markets, who acted as sole agent and has a successful track record of completed real estate development IPOs for US assets."The completion of this financing is a win for the Anthem team on many fronts," said Anthem Core-Founder & CEO, Eric Carlson. "It enables access to housing units for our community, including much-needed market and affordable rentals, in an architecturally significant, multi-use 66 storey tower, which represents innovation by the City ...Full story available on Benzinga.com