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nthem Properties Group has launched an initial public offering (IPO) for its mixed-use development project, Citizen, located in Metrotown, Burnaby, British Columbia. The project consists of 372 condominium units, 200 market rental units, 73 non-market, affordable rental units, 176 hotel suites, and 4,881 square feet of retail space. The IPO is being conducted through the newly created Anthem Citizen Real Estate Development Trust, with the goal of increasing housing availability in a critically constrained market. CIBC Capital Markets is acting as the sole agent for the IPO, and Anthem anticipates raising up to $82M CDN, which will be added to other funding sources already secured on the project.

    Anthem Properties Group is a real estate development, investment, and management company that has been in operation since 1991. With a diverse portfolio consisting of over 41,700 homes, 11.5 million square feet of retail, industrial, and office space, and more than 60 communities across 9,800 acres of land across Alberta, British Columbia, Ontario, and California, Anthem is committed to creating better spaces and stronger communities.

    Citizen is expected to be a premier destination in Metrotown, Burnaby, with a mix of market, rental, and affordable homes, anchored by a hotel and supported by retail space. The project has rezoning approvals and entitlements complete, with construction expected to begin at the close of this offering.

    For more information on the IPO, including the prospectus and investor presentation, please visit www.citizenbyanthemdevtrust.com. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of the REDT in the United States, nor shall there be any sale of the securities of the REDT in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein 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 or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.