BSR Real Estate Investment Trust announces successful closing of a US$115 million buyout deal

/ Not for distribution to US news services or to publish in United State/

This press release constitutes a “tailored news release” for purposes of the supplement to the REIT’s prospectus and is dated December 8, 2021to its short basic shelf prospectus dated December 1, 2021.

Little Rock, Ark. And TorontoAnd April 29, 2022 /CNW/ – The BSR Real Estate Investment Trust (“BSR” or “REIT”) (TSX: HOM.U) (TSX: HOM.UN) announced today that it has completed its previously announced public offering (“IPO”) of units The trust in the REITs (the “Units”) is to the syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets and CIBC Capital Markets (the “Insurance Agents”) on the basis of the purchase transaction. 5,888,000 units were issued at a price of 19.55 USD For each unit of total return to the REIT of 115,110,400 USDwhich includes the total proceeds from the full exercise of the over-allocation option granted to insurance agents to purchase an additional 768,000 units.

BSR intends to use the net proceeds from the IPO to repay outstanding indebtedness, to fund future acquisitions and for public trust purposes. With the IPO closed today, BSR expects debt to have a gross book value of approximately 37.9% including convertible bonds and 35.1% excluding convertible bonds and to reach approximately 150 million US dollars Liquidity available through unrestricted cash and the borrowing capacity available under the credit facility.

Units are shown in both provinces and territories Canada According to the REIT’s short prospectus, dated 26 April 2022 (“Version bulletin”). The terms of the public offering are described in the prospectus filed with the Canadian securities regulators. A copy of the prospectus is available under REIT’s profile on the SEDAR website at

Units 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, sold or delivered, directly or indirectly, in United Stateor for, or for the account or benefit of, “American Persons” (as defined in Regulation S under the 1933 Act), except as to an exemption from the registration requirements of the 1933 Act. This press release does not constitute an offer to sell or the solicitation of an offer to purchase any units therein. United State or for the benefit of, or for the benefit of, American persons.

About BSR Real Estate Investment Trust

The BSR Real Estate Investment Trust is an unincorporated, open ended, internally managed real estate investment trust created in accordance with a declaration of trust under the laws of a county Ontario. REIT owns a range of multi-family garden-style residential properties located in attractive primary and secondary markets in the Sunbelt district of United State.

Additional information about REIT is available at or

forward-looking information

This press release contains forward-looking information within the meaning of applicable securities legislation, that reflects the REIT’s current expectations regarding future events, including statements regarding a public offering, the expected use of its proceeds, expected leverage, available liquidity, and positive industry dynamics. , Continuing implementation of the real estate investment fund growth plan, acquisition capacity. In some cases, forward-looking information may be identified by terms such as “will,” “will,” and “expected.” Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond REIT’s control and which could cause actual results and events to differ materially from those disclosed or implied. Forward-looking information. REIT estimates, beliefs and assumptions, which may be incorrect, include those regarding REIT’s ability to fund and complete future acquisitions, and that COVID-19 will not have a material impact on REIT’s operations, business and financial results. The risks and uncertainties that could affect such forward-looking information include, but are not limited to, the impact of COVID-19 on REIT’s operations, business, and financial results and factors discussed under “Risks and Uncertainties” in the REIT management discussion. and analysis for the year ended December 31, 2021 Under the heading “Risk Factors” in the annual information form of the Real Estate Investment Fund on March 8, 2022, both available on SEDAR ( There can be no guarantee that the forward-looking statements will prove to be accurate because actual results and outcomes may differ materially from those expressed in these forward-looking statements. Therefore, readers should not place undue reliance on any of these forward-looking statements. REIT undertakes no obligation to update this forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. This forward-looking information speaks only as of the date of this press release.

Real Estate Investment Fund SOURCE BSR



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