QUÉBEC
CITY, Jan. 18, 2022 /CNW Telbec/ - Cominar
Real Estate Investment Trust ("Cominar") (TSX:
CUF.UN) announced today a distribution of $0.015 per unit to unitholders of record as
at January 31, 2022 (the "January
2022 Distribution").
In connection with the plan of arrangement for
the acquisition of Cominar by the consortium led by an affiliate of
Canderel Management Inc. (the "Arrangement"), Cominar agreed
that distributions for October, November and December 2021 (payable respectively in November
and December, 2021, and January, 2022) would be suspended. However,
as previously announced, given that the Arrangement did not close
by January 15, 2022, Cominar is
authorized to resume its monthly distributions for an amount not
exceeding $0.015 per unit in respect
of the second half of January and not exceeding $0.03 per unit for subsequent months until the
closing of the Arrangement.
Subject to the satisfaction of conditions to closing, the
Arrangement transaction is expected to close in the first quarter
of 2022 but after January 31,
2022.
The January 2022
Distribution will be payable on February 15,
2022.
PROFILE AS AT JANUARY
18, 2022
Cominar is one of the largest diversified real
estate investment trusts in Canada
and is the largest commercial property owner in the province of
Québec. Its portfolio consists of 309 high-quality office, retail
and industrial properties totalling 35.5 million square feet
located in the Montreal, Québec
City and Ottawa areas. Cominar's
primary objective is to maximize total return to unitholders
through tax-efficient distributions, and maximize unit value via
proactive portfolio management.
SOURCE COMINAR REAL ESTATE INVESTMENT TRUST