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H&R REIT Announces Closing Of $1.47 Billion Strategic Sale Transaction
H&R REIT Announces Closing Of $1.47 Billion Strategic Sale Transaction H&am...
About this update from H&r Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n H&R REIT Announces Closing Of $1.47 Billion Strategic Sale Transaction\n \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.prngen3{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: CENTER; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: CENTER; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prnsbls{\nBORDER-LEFT:black 1pt solid\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnrbrs{\nBORDER-RIGHT:black 1pt solid\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbt1{\nBORDER-TOP:1pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n \n \n \n \n \n H&R REIT Announces Closing Of $1.47 Billion Strategic Sale Transaction\n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Oct. 12, 2021\n \n /CNW/ - H&R REIT (\"H&R\" or the \"REIT\") (TSX: HR.UN) is pleased to announce that it has closed the transactions previously announced\n \n August 3, 2021\n \n involving the 2.0 million sq.ft. Bow office tower located in\n \n Calgary, Alberta\n \n , and the sale of the 1.1 million sq.ft. Bell office campus (the \"Bell Campus\") located in\n \n Mississauga, Ontario\n \n , for combined gross proceeds of approximately\n \n $1.47 billion\n \n .\n \n \n As part of the transaction, the REIT has issued notices of redemption for the Bow Centre Street Limited Partnership Series B and Series C Secured Bonds for a combined redemption amount of\n \n $524 million\n \n , inclusive of pre-payment penalties, to be redeemed on\n \n October 18\n \n \n th\n \n , 2021. The REIT has also repaid\n \n $25 million\n \n of mortgages secured by the Bell Campus, inclusive of pre-payment penalties, while another\n \n $97 million\n \n of associated mortgage debt was assumed by the buyer.\n \n \n ...