TORONTO, Jan. 3, 2013 /CNW/ - H&R Real Estate Investment Trust and H&R
Finance Trust ("H&R") today announced that the Trustees have declared
distributions as follows:
|
Distribution/Stapled Unit
|
Annualized
|
Record date
|
Distribution date
|
January 2013
|
$0.11250
|
$1.35
|
January 17, 2013
|
January 31, 2013
|
February 2013
|
$0.11250
|
$1.35
|
February 13, 2013
|
February 28, 2013
|
These distributions are 8% higher than the December 2012 distribution
and 23% higher than the January and February 2012 distributions,
respectively.
About H&R REIT and H&R Finance Trust
H&R REIT is an open-ended real estate investment trust, which owns a
North American portfolio of 42 office, 115 industrial and 138 retail
properties comprising over 45 million square feet and 2 development
projects, with a fair value of approximately $10 billion. The
foundation of H&R REIT's success since inception in 1996 has been a
disciplined strategy that leads to consistent and profitable growth.
H&R REIT leases its properties long term to creditworthy tenants and
strives to match those leases with primarily long-term, fixed-rate
financing.
H&R Finance Trust is an unincorporated investment trust, which primarily
invests in notes issued by a U.S. corporation which is a subsidiary of
H&R REIT. The current note receivable is U.S. $162.5 million. In
2008, H&R REIT completed an internal reorganization which resulted in
each issued and outstanding H&R REIT unit trading together with a unit
of H&R Finance Trust as a "Stapled Unit" on the Toronto Stock Exchange.
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). 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. Those risks and uncertainties include,
among other things, risks related to: prices and market value of
securities of H&R; availability of cash for distributions; development
and financing relating to the Bow development; restrictions pursuant to
the terms of indebtedness; liquidity; credit risk and tenant
concentration; interest rate and other debt related risk; tax risk;
ability to access capital markets; dilution; lease rollover risk;
construction risks; currency risk; unitholder liability; co-ownership
interest in properties; competition for real property investments;
environmental matters; reliance on one corporation for management of
substantially all of the REIT's properties and changes in legislation
and indebtedness of H&R. Material factors or assumptions that were
applied in drawing a conclusion or making an estimate set out in the
forward-looking statements include that the general economy is stable;
local real estate conditions are stable; interest rates are relatively
stable; and equity and debt markets continue to provide access to
capital. H&R cautions that this list of factors is not exhaustive.
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.
SOURCE: H&R Real Estate Investment Trust
Larry Froom,
Chief Financial Officer, H&R REIT
(416) 635-7520, or e-mail info@hr-reit.com