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Bullboard - Stock Discussion Forum H&R Real Estate Investment Trust T.HR.UN

Alternate Symbol(s):  HRUFF

H&R Real Estate Investment Trust is a Canada-based real estate investment trust. The Company owns, operates and develops residential and commercial properties across Canada and in the United States. The Company operates through the four segments: Residential, Industrial, Office and Retail. The Residential segment consists of approximately 24 residential properties in select markets in the... see more

TSX:HR.UN - Post Discussion

H&R Real Estate Investment Trust > Cold Storage Warehouse Sale
View:
Post by TVR on Jul 30, 2021 9:46am

Cold Storage Warehouse Sale

Versacold announced today that it has bought a portfolio of cold storage warehouses from HR REIT and Crestpoint - 1.2 million sq. ft.  No pricing given.  Does not look like it is significant from HR's point of view since the press release came from Versacold.  Verscold were already managing these warehouses.
Comment by TVR on Jul 30, 2021 11:18am
Looks like the Versacold sale was around 11 industrial sector properties across the country, all owned 50/50 by HR and Crestpoint.
Comment by SNAKEYBOY on Jul 30, 2021 2:29pm
Maybe they selloff Indusrtial/Residential opportunistically and split into Office and Retail REITS
Comment by gashole on Jul 31, 2021 7:04am
An office and retail reit only? I guess they just hit nav then, met their targets... Nav will be substantially lower than $22/$23... 
Comment by SNAKEYBOY on Jul 31, 2021 3:44pm
No cause they crystalize the cash value of the industrial/residential segments 
Comment by materialsgirl on Aug 01, 2021 4:20pm
NAV will increase by the amount of extra cash they get over  the current carrying value. Property NAV drops for sure and then you add back the  extra cash. It is unusual for one side of a transaction to broadcast a deal  while the other side remains silent. I anticipate that the asets which were sold the Versacold realized  about 30% more that the official IFRS or book value.  ...more  
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