Choice Properties REIT Welcomes Canadian Real Estate Investment Trust Unitholders' Approval of Arrangement Transaction

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[{"type":"text","content":"\n\n\n\nChoice Properties REIT Welcomes Canadian Real Estate Investment Trust Unitholders' Approval of Arrangement Transaction\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, April 11, 2018\n\n\n\nTORONTO, April 11, 2018 /CNW/ - Choice Properties Real Estate Investment Trust (TSX:CHP.UN, \"Choice Properties\") welcomed the decision by unitholders of Canadian Real Estate Investment Trust (TSX:REF.UN, \"CREIT\") to approve the plan of arrangement relating to the combination transaction of Choice Properties and CREIT (the \"Arrangement\") at a special meeting of CREIT unitholders held earlier today.\n\nThe Arrangement, whereby Choice Properties will acquire all of CREIT's assets and assume all of its liabilities (other than certain credit facilities of CREIT that will be repaid in connection with the Arrangement), was approved by approximately 97.4% of the votes cast by CREIT's unitholders. A copy of the complete report on voting is available on SEDAR under CREIT's issuer profile.\n\n\"We are pleased that the combination of CREIT with Choice Properties has received overwhelming support of CREIT's unitholders,\" said John Morrison, President and CEO of Choice Properties. \"This combination will form Canada's preeminent diversified REIT and enhances Choice Properties' long-term growth potential. Together, the combined REIT's best-in-class operating platform will capitalize on an unmatched pipeline of opportunities to create long-term value for all stakeholders.\"\n\nChoice Properties expects the Arrangement to close in the second quarter of 2018, subject to the satisfaction or waiver of all conditions to closing, including clearance under the Competition Act (Canada).\n\nAbout Choice Properties Real Estate Investment Trust\n\nChoice Properties is an owner, manager and developer of well-located retail and commercial real estate across Canada. Choice Properties' portfolio spans approximately 44.1 million sq. ft. of GLA and consists of 546 properties primarily focused on supermarket and drug store anchored shopping centres and...

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