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Revealed Sep 10, 2024 • 2 minute learn
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VANCOUVER, British Columbia, Sept. 10, 2024 (GLOBE NEWSWIRE) — Anthem Properties Group has launched an preliminary public providing on its 66 storey, mixed-use growth, Citizen, positioned within the coronary heart of Metrotown in Burnaby, British Columbia, with the purpose of accelerating housing availability in a critically constrained market. Items on this IPO will probably be issued by way of the newly created Anthem Citizen Actual Property Growth Belief.
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CIBC Capital Markets will act as sole agent for the IPO and has efficiently accomplished actual property growth IPOs for US property. Anthem anticipates elevating as much as $82M CDN which will probably be added to different funding sources already secured on the challenge. The partnership mannequin on Citizen is just not new to Anthem, who has monetary partnerships on a lot of its initiatives.
“Coverage adjustments, elevated prices, shifting market cycles and extra create an ongoing problem for builders looking for capital which requires progressive and artistic pondering to get initiatives off the bottom,” mentioned Anthem Core-Founder & CEO, Eric Carlson. “Doing issues otherwise is on the core of what we do at Anthem, and this IPO is an effective way to proceed to push the boundaries of what’s doable and take a brand new method to creating housing occur.”
With a mixture of market, rental and reasonably priced properties, anchored by a lodge and supported by retail area, Citizen is anticipated to be a premier vacation spot in Metrotown, Burnaby. Anthem has a productive and optimistic working relationship with the Metropolis of Burnaby, who is keen to create nice areas that encourage residents and companies to decide on their metropolis to name dwelling. The challenge has rezoning approvals and entitlements full, with building anticipated to start on the shut of this providing.
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Particulars on the IPO together with the prospectus and investor presentation may be discovered at www.citizenbyanthemdevtrust.com
This press launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase securities of the REDT in america, nor shall there be any sale of the securities of the REDT in any jurisdiction wherein such supply, solicitation or sale can be illegal. The securities described herein haven’t been and won’t be registered underneath america Securities Act of 1933, as amended (the “1933 Act”), and will not be provided or offered inside america except registered underneath the U.S. Securities Act and relevant state securities legal guidelines or pursuant to exemptions from the registration necessities of the U.S. Securities Act and relevant state securities legal guidelines.
About Anthem Properties
Anthem is an actual property growth, funding and administration firm that strives, solves and evolves to create higher areas and stronger communities, with greater than 385 residential, industrial, and retail initiatives. Based in 1991, Anthem is a workforce of 800, with a various portfolio consisting of 41,700 properties, 11.5 million sq. toes of retail, industrial and workplace area and has developed greater than 60 communities throughout 9,800 acres of land throughout in Alberta, British Columbia, Ontario and California. We’re Rising Locations.
Contact:
Elisha McCallum
Vice President, Communications
Telephone: 604.488.3612 Cellular: 778.668.0185
Electronic mail: emccallum@anthemproperties.com
A photograph accompanying this announcement is obtainable at https://www.globenewswire.com/NewsRoom/AttachmentNg/4159460b-cefc-4564-9407-2e54268141a2
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