Avenue Living Announces $350 Million Senior Unsecured Debenture Offering
Calgary, AB, Sept. 23, 2025 (GLOBE NEWSWIRE) -- Avenue Living (2014) LP (“Avenue Living”) announced today that it has priced an offering (the “Offering”) of $350 million aggregate principal amount of Series B senior unsecured debentures (the “Debentures”) to be issued at par and due September 25, 2028.
The Offering is expected to close on or about September 25, 2025. The Debentures will bear interest at a fixed annual rate of 4.520% per annum, payable in equal semi-annual instalments in arrears on March 25 and September 25 in each year, commencing on March 25, 2026, until maturity, unless redeemed at an earlier date. The Debentures will rank equally with all other unsecured and unsubordinated indebtedness.
The Debentures are being offered on a private placement basis in each of the provinces of Canada, led by RBC Capital Markets and including BMO Capital Markets.
The net proceeds from the Offering will be used to refinance existing indebtedness and for general corporate purposes.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the Debentures. The Debentures have not been approved or disapproved by any regulatory authority. The Debentures have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold within the United States, or to or for the account of United States persons.
About Avenue Living Group
Avenue Living Group is a property owner-operator with over $8.5 billion in assets under management across more than 50 markets in Canada and the United States. The firm’s multi-family division manages more than 21,800 doors throughout the North American heartland. Its self-storage fund owns and operates over 10 million square feet of self-storage space, while its agriculture fund oversees 50,000 acres of farmland. Avenue Living Group focuses on long-term investments in asset classes that impact the lives of everyday North Americans. The firm has strategically built an institutional, proprietary platform that sets it apart from its peers, enabling a customer-centric management model that drives value for its customers, investors, and employees.
Cautionary Statement Regarding Forward-Looking Information
This press release may contain forward-looking statements with respect to Avenue Living including the timing of closing of the Offering and the intended use of the net proceeds of the Offering. These statements generally can be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. The actual results and performance discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, financing and interest rates, general economic and market conditions and other relevant factors. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and, except as required by applicable law, Avenue Living has no obligation to update such statements.
