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Farris LLP: Vancouver's Law Firm


06 May 2014

Farris represents City Office REIT, Inc. in its Initial Public Offering

May 6, 2014 - A Farris team comprising partners Mitchell H. Gropper, Q.C. and Duncan J. Reid, and associate Robert Veitch, advised City Office REIT, Inc. (City Office) on Canadian matters relating to its initial public offering (IPO) of 5,800,000 shares at a price of US$12.50 on the New York Stock Exchange.  Together with the exercise of the overallotment option for an additional 782,150 shares on May 6, the IPO raised total offering proceeds of US$82.3 million. The IPO included a private placement to Canadian investors in addition to the public offering in the United States and closed on April 21, 2014.
City Office was formed to acquire, own and operate high-quality office properties located within its specified target markets, which are located in metropolitan areas in the Southern and Western United States.  City Office intends to use the net proceeds from the offering to acquire interests in its portfolio of initial properties, to repay certain indebtedness secured by the initial properties and for general working capital purposes, including payment of expenses associated with its formation transactions and for future acquisitions.

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