TORONTO, Oct. 7, 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
|
October 2013
|
$0.11250
|
$1.35
|
October 17, 2013
|
October 31, 2013
|
November 2013
|
$0.11250
|
$1.35
|
November 15, 2013
|
November 29, 2013
|
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 41 office, 112 industrial and 165 retail
properties comprising over 53 million square feet and 2 development
projects, with a fair value of approximately $13 billion. In addition,
H&R REIT has a one-third interest in ECHO Realty LP which owns 176
properties totalling 7.4 million square feet. 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 for long terms 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. $219.8 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; 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 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
Copyright CNW Group 2013