TORONTO, July 17,
2024 /CNW/ - H&R Real Estate Investment Trust
("H&R REIT" or "H&R") (TSX: HR.UN) today announced that on
June 28, 2024, it closed the
previously announced sale of its 50% ownership interest in
3777/3791 Kingsway, Burnaby, BC
for $82.5 million.
Earnings Release
H&R also announced that it will release its financial
results for the three and six months ended June 30, 2024 on Wednesday, August 14, 2024. Management will
host a conference call to discuss the financial results for H&R
REIT on Thursday, August 15, 2024 at
9.30 a.m. Eastern Time.
Conference Call
Participants can join the call by dialing 1‐800‐717‐1738 or
1‐289‐514‐5100. For those unable to participate in the conference
call at the scheduled time, a replay will be available
approximately one hour following completion of the call. To access
the archived conference call by telephone, dial 1‐289‐819‐1325 or
1‐888‐660‐6264 and enter the passcode 22332 followed by the "#"
key. The telephone replay will be available until Thursday, August 22, 2024 at midnight.
Webcast
A live audio webcast will be available through
https://www.hr-reit.com/investor-relations/#investor-events.
Please connect at least 15 minutes prior to the conference call to
ensure adequate time for any software download that may be required
to join the webcast. The webcast will be archived on H&R's
website following the call date.
Monthly Distribution Declared
H&R today declared a distribution for the month of July
scheduled as follows:
|
Distribution per
Unit
|
Annualized
|
Record date
|
Distribution
date
|
|
July 2024
|
$0.05
|
$0.60
|
July 31,
2024
|
August 15,
2024
|
About H&R
REIT
H&R REIT is one of Canada's
largest real estate investment trusts with total assets of
approximately $10.9 billion as at
March 31, 2024. H&R REIT has
ownership interests in a North American portfolio comprised of
high-quality residential, industrial, office and retail properties
comprising over 26.8 million square feet. H&R's strategy is to
create a simplified, growth-oriented business focused on
residential and industrial properties in order to create
sustainable long-term value for unitholders. H&R plans to sell
its office and retail properties as market conditions permit.
H&R's target is to be a leading owner, operator and developer
of residential and industrial properties, creating value through
redevelopment and greenfield development in prime locations within
Toronto, Montreal, Vancouver, and high growth U.S. sunbelt and
gateway cities.
Forward-looking Statements
Certain statements in this news release contain forward-looking
information within the meaning of applicable securities laws (also
known as forward-looking statements). These forward-looking
statements include, but are not limited to, H&R's plans,
objectives, expectations and intentions, including with respect to
the timing of release of financial results and the payment of
distributions. Such forward-looking statements reflect
H&R's current beliefs and are based on information currently
available to management. These statements are not guarantees of
future performance and are based on H&R's estimates and
assumptions that are subject to risks and uncertainties, including
those discussed in H&R's materials filed with the Canadian
securities regulatory authorities from time to time, which could
cause the actual results and performance of H&R to differ
materially from the forward-looking statements contained in this
news release. Although the forward-looking statements contained in
this news release are based upon what H&R believes are
reasonable assumptions, there can be no assurance that actual
results will be consistent with these forward-looking statements.
All forward-looking statements in this news release are qualified
by these cautionary statements. These forward-looking statements
are made as of today and H&R, except as required by applicable
law, assumes no obligation to update or revise them to reflect new
information or the occurrence of future events or
circumstances.
Additional information regarding H&R REIT is available
at www.hr-reit.com and on www.sedarplus.com.
SOURCE H&R Real Estate Investment Trust