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H&R Provides Update on Impact of Tropical Storm Harvey
H&R Provides Update on Impact of Tropical Storm Harvey H&R Provides Update...
About this update from H&r Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nH&R Provides Update on Impact of Tropical Storm Harvey\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\nH&R Provides Update on Impact of Tropical Storm Harvey\nCanada NewsWire\nTORONTO, Aug. 30, 2017\n\n\n\nTORONTO, Aug. 30, 2017 /CNW/ - H&R Real Estate Investment Trust (\"H&R REIT\" or \"H&R\") (TSX: HR.UN; HR.DB.D; and HR.DB.H) is providing a preliminary property assessment of the impact of Tropical Storm Harvey on its properties in and around Houston, Texas.\n\nH&R, through its wholly owned division Lantower Residential, owns two multi-family properties known as Magnolia Grove and South at Parc Green, located in Houston. Residents continue to have access to both properties, electricity and water services have not been interrupted and damage has been minimal. In addition to the Houston portfolio, Lantower Residential continues to monitor its three multi-family properties in Austin and one multi-family property in San Antonio, which have not been impacted by the storm.  \n\nHess Tower, our 29-story office building located in downtown, is also part of the H&R Houston portfolio. While no damage has been reported and power and water supply have not been interrupted, Hess Corporation has elected to keep the building closed until Tuesday September 5th, 2017.\n\nH&R also owns four retail properties in Houston totalling 57,346 square feet. All four properties are leased on a triple net basis to Walgreens, who is responsible for remedying any damage to the properties.\n\nPhilippe Lapointe, Dallas-based Chief Operating Officer of Lantower Residential, commented, \"While the forecast calls for rain to remain over Houston in the coming days, we are hopeful that the worst is behind us. We will continue to support our on-site teams and monitor our properties for any storm damage. Our priority continues to be the well-being of our residents and employees. Lantower is committed to providing assistance to our staff, residents and fellow Texans during this difficult time.\"\n\nAbout H&R REIT\n\nH&R REIT is Canada's large...