Hot season for real estate financing


Tuesday, June 15, 2010 7:07 AM

Hot season for real estate financing

Andrew Willis

Real estate companies are financing at a blistering pace, with mall owner First Capital Realty raising $50-million on Monday with a stock sale.

First Capital sold equity in the wake of IPOs from a number of Canadian REITs. The investor appeal of this sector is defensive – these companies are seen as stable, and tend to churn out predictable income.

The First Capital deal saw shares sold for $14.35 each, a relatively thin 2 per cent discount to where the stock was trading prior to Monday’s close of trading on the TSX.

RBC Dominion Securities and TD Securities led the financing.

In addition to these equity offerings, a $5.5-billion offering of federal government-backed Canada Mortgage Bonds is expected to be priced on Tuesday.



Posted via web from Toronto Real Estate News, Blog


About Tariq Sultan
Dear Readers, I am a dedicated Toronto, Ontario based real estate professional who has been successfully meeting and exceeding the needs of his clients for past several years. I am actively involved in the insurance, financing, and mortgage industry. Real estate is not only my career – it is my passion. I strive to continuously provide my clients with exceptional service to ensure they are fully satisfied when it comes to their real estate needs. For any real estate related inquires contact me today, I will be happy to assist you. Best wishes, Tariq Sultan

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