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CT REIT Completes Acquisition of Five Properties from RioCan REIT
CT REIT Completes Acquisition of Five Properties from RioCan REIT Canada NewsWire ...
About this update from Ct Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nCT REIT Completes Acquisition of Five Properties from RioCan REIT\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, Dec. 18, 2017\n\n\n\nTORONTO, Dec. 18, 2017 /CNW/ - Further to its press release issued on November 28, 2017, CT Real Estate Investment Trust (\"CT REIT\") (TSX:CRT.UN) announced today that it has completed the purchase of five properties from RioCan Real Estate Investment Trust (\"RioCan\") at a total investment of $135 million, before transaction costs. The properties are located in Hamilton, Orillia, and Sudbury, Ontario; Yorkton, Saskatchewan; and Oliver, British Columbia. \n\nThe acquisition of the two remaining properties in Collingwood and St. Catharines, Ontario are expected to be completed during the first quarter of 2018.\n\nIn addition, CT REIT has entered into a new loan facility with Canadian Tire Corporation, Limited for an amount of up to $150 million and for a term of up to one year. CT REIT drew on this new facility to partially fund the five acquisitions referenced above. This new facility is in addition to CT REIT's existing bank credit facility.\n\nForward–Looking Statements\n\nThis document contains forward-looking information, including statements concerning the REIT's ability to complete any of the investments in acquisitions from RioCan. Forward-looking statements are provided for the purposes of providing information about CT REIT's future outlook and anticipated events or results. Readers are cautioned that such information may not be appropriate for other purposes.\n\nThe forward-looking statements and information contained herein are based on management's reasonable assumptions, estimates, analyses, beliefs and opinions, as well as other factors that management believes to be relevant and reasonable as of the date hereof. CT REIT does not undertake to update any forward-looking information, whether written or oral, that may be made from time to time by it or on its behalf, to reflect new information, future events or otherwise, except as is required by applicable securities laws.\n\nA...