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TransGlobe Apartment REIT Files Preliminary Prospectus for Initial Public Offering
April 13, 2010
TransGlobe Apartment REIT announced that it has filed, and obtained a receipt for, a preliminary prospectus respecting its initial public offering of trust units with the securities commissions of all provinces and territories in Canada. The proposed offering will be underwritten by a syndicate of underwriters led by CIBC.
Completion of the initial public offering is subject to and conditional upon the receipt of all necessary approvals, including regulatory approvals. Copies of the preliminary prospectus will be available on the website www.sedar.com.
About TransGlobe Apartment REIT
TransGlobe Apartment REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT has been formed to indirectly acquire, conditional on closing of the initial public offering, 65 residential rental properties containing approximately 8,200 suites principally located in urban centres in Alberta, Ontario, Québec, New Brunswick and Nova Scotia that are currently owned or co-owned and operated by TransGlobe Investment Management Ltd. (TGIM) or its affiliates. TGIM and an affiliate will administer and operate the assets of the REIT following closing in order to support the REIT's external management structure.
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