TORONTO,
April 2, 2014 /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 |
April 2014 |
$0.11250 |
$1.35 |
April 14, 2014 |
April 30, 2014 |
May 2014 |
$0.11250 |
$1.35 |
May 15, 2014 |
May 30, 2014 |
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, 168 retail properties and 112 industrial comprising over 53
million square feet and 2 development projects, with a fair value
of approximately $13 billion.
In addition, H&R REIT owns a 33.7% interest in ECHO Realty LP
which owns 173 properties, excluding properties under development
and vacant land, totalling 7.3 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 balance 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