10:57 AM EDT, 06/20/2025 (MT Newswires) -- Primaris Real Estate Investment Trust (PMZ-UN.TO) on Friday said it has closed a bought-deal secondary offering of near 8.5 million trust units at $14.70 apiece, raising $124.3 million.

A statement noted the underwriters purchased all of the units held by the selling unitholder, an entity managed by Cadillac Fairview, and the units were previously issued to it as partial consideration for Primaris' acquisition of Lime Ridge Mall in Hamilton, Ontario. Primaris did not receive any proceeds.

Separately, Primaris has published its inaugural Green Finance Framework, under which it may issue green bonds, green loans or other related financial instruments. The framework outlines eight eligible categories for investment: green buildings, energy efficiency, renewable energy, sustainable water and wastewater management, clean transportation, climate change adaptation, pollution prevention and control, and the circular economy.

The trust's units were last seen down $0.03, to $14.61, on the Toronto Stock Exchange.

Price: 14.62, Change: -0.02, Percent Change: -0.14