Choice Properties' portfolio spans approximately 44.1 million sq. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Choice Properties' and CREIT's expectations only as of the date of this release. Centurion Apartment Real Estate Investment Trust (private) (Dividend Info) Equiton Residention Income Fund Trust (private) ( Homepage ) ( Dividend Info ) InterRent REIT ( … The REIT’s properties are well located across Canada majorly in the largest markets. These committed facilities consist of an $850 million bridge facility that Choice Properties intends to refinance through the issuance of senior unsecured debentures and a $1.25 billion term loan. residential equities real estate investment trust recommendation the offer and merger described in the accompanying documents form the principal parts of the transactions pursuant to which canadian apartment properties real estate investment trust (‘‘cap reit’’) proposes to acquire all of the issued and outstanding trust units (‘‘resreit units’’) of residential equities Forward-looking statements reflect current estimates, beliefs and assumptions, which are based on Choice Properties' and CREIT's perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. Choice Properties' strategy is to create value by enhancing and optimizing its portfolio through accretive acquisitions, strategic development and active property management. The term loan is structured in tranches maturing in 3, 4 and 5 years. Starlight Group Property Holdings Inc.3280 Bloor Street WestSuite 1400Centre TowerToronto, ONM8X 2X3(416) 234-8444, KingSett Real Estate Growth LP No. estate a long-term core business and transform Choice Properties into the premier diversified real estate investment trust in Canada. TORONTO, May 4, 2018 /CNW/ - Choice Properties Real Estate Investment Trust (TSX:CHP.UN, " Choice Properties ") and Canadian Real Estate Investment Trust (TSX:REF.UN, " CREIT ") today announced the successful completion of the previously announced plan of arrangement (the … ft. of GLA and consists of 546 properties primarily focused on supermarket and drug store anchored shopping centres and stand-alone supermarkets and drug stores. The proforma information set forth in this press release should not be considered to be what the actual financial position or other results of operations would have necessarily been had Choice Properties and CREIT operated as a single combined entity as, at, or for the periods stated. More information regarding these non-GAAP measures and a reconciliation of each to the nearest IFRS financial measure is available in Choice Properties' most recent management's discussion and analysis filed on SEDAR (www.sedar.com). Choice Properties' Board of Trustees has unanimously determined that the transaction is in the best interests of Choice Properties. © 2020 GlobeNewswire, Inc. All Rights Reserved. CT Real Estate Investment Trust Declares Distribution for the Period of December 1, 2020 to December 31, 2020 December 10, 2020 CT REIT Announces Offering of $150M 2.371% Series G Senior Unsecured Debentures due January 6, 2031 and Redemption of $150M 2.159% Series C Senior Unsecured Debentures due June 1, 2021 No shareholder is going to vote against the merger and watch their stock tank to around $40. Together, Choice Properties and CREIT will form Canada's largest REIT with an enterprise value of approximately $16B. About Choice Properties Real Estate Investment Trust. April 2017. Together, the combined REIT is uniquely positioned to deliver results for unitholders as the owner, manager and developer of a high quality portfolio of diversified assets.". This press release uses the following non-GAAP measures: NOI (Net Operating Income). CREIT unitholders, who will own approximately 27% of the combined company, stand to benefit from substantial upside over the long-term, driven by the combined entity's financial stability, diversity and growth prospects. Additional income through monthly distributions of roughly 0.41% per month. The offering was part of an equity fundraising exercise, announced last month, alongside a private placement that raised about S$800 million. Choice Properties was spun out by Loblaw Cos. Ltd. in 2013 and the grocery chain is its biggest tenant today. The retail portfolio (78% of NOI) is focused on necessity based retailers (85% of the retail assets) and provides a solid foundation of stable and growing cash flows. Looks simple so I am confused. As previously reported on the System for Electronic Disclosure by Insiders (SEDI), 719,500 Northview Units were acquired on the Toronto Stock Exchange between September 11 and 16, 2020 for aggregate cash consideration of $24,453,418.26, at prices between $33.67 and $33.99 per Northview Unit. Wed, Sep 04, 2019 - 9:06 AM. Canadian Real Estate Investment Trust Contested Merger. In the combined REIT, John Morrison will become the Vice Chairman of the Board of Trustees and Stephen Johnson will be the President and CEO.". To facilitate Choice Properties' financing for the transaction, Loblaw has agreed to convert all of its outstanding Class C LP units of Choice Properties Limited Partnership with a face value of $925 million ("Class C LP units") into Class B LP units of Choice Properties Limited Partnership ("Class B LP units") on closing. A high-level overview of Canadian Apartment Properties Real Estate Investment Trust (CDPYF) stock. Since February 19, 2020, 297,239 Northview Units were acquired by Starlight Group pursuant to Northview’s Distribution Reinvestment Program. Artis is a diversified Canadian real estate investment trust investing primarily in industrial and office properties in select markets in Canada and the United States. Upon closing, Mr. John Morrison will step down as President and Chief Executive Officer of Choice Properties and will serve as non-executive Vice Chairman of the combined REIT, providing guidance to the combined organization. A playback will be made available two hours after the event at (416) 849-0833; access code: 4295779. A Cision company.Â, HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Choice Properties Real Estate Investment Trust. Two Canadian REITs complete merger into Nexus REIT Earlier this week, Edgefront Real Estate Investment (TSXV: ED.UN) and Nobel Real Estate Investment Trust (TSXV: NEL.UN) announced the completion of its deal to enter into a diversified merger. Choice Properties' Board of Trustees has received an opinion from its financial advisor, TD Securities Inc., that as of the date thereof and subject to the assumptions, limitations and qualifications set forth therein, the consideration to be paid by Choice Properties to CREIT unitholders pursuant to the transaction is fair, from a financial point of view, to Choice Properties. Choice Properties intends to maintain its current distribution of $0.74 per unit on an annual basis. CREIT's Board of Trustees has received an opinion from its financial advisor, RBC Capital Markets, that as of the date thereof and subject to the assumptions, limitations and qualifications set forth therein, the consideration to be received by unitholders of CREIT pursuant to the transaction is fair, from a financial point of view, to unitholders of CREIT. Choice Properties is a Real Estate Investment Trust that owns, manages and develops retail and commercial real estate across Canada. CREIT owns a diversified portfolio of retail, industrial and office properties. 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