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 of Burnaby when it comes to land use. Financially, the IPO of a single asset Mutual Fund Trust is a creative and unique solution to raise the capital required to make this project happen.”
With a mix of market, rental and affordable homes, anchored by a hotel and supported by retail space, Citizen is anticipated to be a premier destination in Metrotown, Burnaby. Anthem has a productive and positive working relationship with the City of Burnaby, which is eager to create great spaces that encourage residents and businesses to choose their city to call home. The project has rezoning approvals and entitlements completed, and construction is underway.
Background on the IPO including investor materials and past REDT press releases can be found at www.citizenbyanthemdevtrust.com
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of the REDT in the United States, nor shall there be any sale of the securities of the REDT in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.
About Anthem Properties
Anthem is a real estate development, investment and management company that strives, solves and evolves to create better spaces and stronger communities, with more than 385 residential, commercial, and retail projects. Founded in 1991, Anthem is a team of 800 people, with a diverse portfolio consisting of 41,700 homes, 11.5 million square feet of retail, industrial and office space and has developed more than 60 communities across 9,800 acres of land across in Alberta, British Columbia, Ontario and California. We are Growing Places.
Contact:
Elisha McCallum
Vice President, Communications
Phone: 604.488.3612 Mobile: 778.668.0185
Email: emccallum@anthemproperties.com
