Primaris $200M Equity Offering
Primaris Real Estate Investment Trust Announces $200 Million Equity Offering for Acquisitions
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Primaris Real Estate Investment Trust announced a $200 million equity offering on Tuesday, according to Market Screener. The Canadian REIT will issue 9.91 million units at $20.20 per unit through a syndicate led by TD Securities, Desjardins Capital Markets, and RBC Capital Markets. The offering closes around September 22, 2026.
Primaris plans to use the proceeds for future property acquisitions and other trust needs. The units will be sold across all Canadian provinces and territories through a shelf prospectus. This move signals the REIT's push to expand its portfolio in Canada's retail real estate market.
How the $200 Million Offering Works
Three major Canadian banks are underwriting the deal. TD Securities, Desjardins Capital Markets, and RBC Capital Markets are booking the offering together. They will buy all 9.91 million units at the fixed price of $20.20 each, Market Screener reported. This guarantees Primaris gets the full $200 million in gross proceeds.
What Primaris Plans to Do With the Cash
The REIT will put the money toward two main goals. First, it will fund acquisitions of new retail properties. Second, it will support general trust operations and needs. Primaris operates shopping centers and retail real estate across Canada, making acquisitions key to growth. The timing suggests the company sees opportunities in the market.
Units Available Across Canada Starting This Fall
The REIT units will be offered in all provinces and territories of Canada. Investors can purchase shares through the base shelf prospectus and prospectus supplement filed with regulators. The offering is expected to close on or about September 22, 2026, according to Market Screener. This gives investors several months to participate before the deal completes.
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