Agellan Commercial Real Estate Investment Trust (0623351D) is postponing its initial public offering until January, according to two people with knowledge of the transaction.
The people asked not to be named because the details haven’t been made public. Agellan sought to raise C$154 million ($156.4 million) by selling units yielding 6.5 percent to 7 percent for C$10 each in an IPO that was slated to be priced today, according to sale documents.
Derek Dermott, president of Agellan, declined to comment on the company’s IPO plans.
The Toronto-based company was formed to own and operate industrial, office and retail properties in the U.S. and Canada.
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