H&R Real Estate Investment Trust T.HR.UN

Cold Storage Warehouse Sale

[TVR]

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.

[TVR]

Looks like the Versacold sale was around 11 industrial sector properties across the country, all owned 50/50 by HR and Crestpoint.

[SNAKEYBOY]

Maybe they selloff Indusrtial/Residential opportunistically and split into Office and Retail REITS

[gashole]

An office and retail reit only? I guess they just hit nav then, met their targets... Nav will be substantially lower than $22/$23... 

[SNAKEYBOY]

No cause they crystalize the cash value of the industrial/residential segments 

[materialsgirl]

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.