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

Toronto Office Sale at 5.7% cap rate (above NAV)

[Frankie10]

Management continues to prove to me they are the BEST management team across EVERY Canadian REIT (public and private). I am so happy with this news. Incredible. All the negative arguments against H&R continue to be laid to rest. Net proceeds will be used for debt maturities and development costs.

On a more broad note - this will impact the perceived value of Toronto office. Per my calculations, implied cap rates across Allied, Dream Office and H&R office portfolio are all double digits - FAR from the announced sale representing a 5.7% cap rate. Opportunity to monetize the disconnect between private and public valuation is HUGE and seems to be something only skilled management teams with high quality assets can achieve in this environment.

Washing my breakfast down with the tears of shorts and naysayers this morning. Cheers.

[Shylock40]

Could not agree more. If you are still investing here and adding, then you deserve all the good things are are coming our way with H&R! Best of Luck to All!