Business
Primaris REIT Provides Business Update Following Spin-Off & Completion of HOOPP Transaction
Primaris REIT Provides Business Update Following Spin-Off & Completion of HOOPP Trans...
About this update from Primaris Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n Primaris REIT Provides Business Update Following Spin-Off & Completion of HOOPP 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.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n \n \n \n \n \n Primaris REIT Provides Business Update Following Spin-Off & Completion of HOOPP Transaction\n \n \n Canada NewsWire\n \n \n \n \n \n \n Index Inclusion, Estimated NAVPU\n \n $22\n \n , Industry Leading Credit Metrics,\n \n $700 Million\n \n Credit Facility\n \n \n \n \n \n TORONTO\n \n ,\n \n Jan. 4, 2022\n \n /CNW/ - Primaris Real Estate Investment Trust (\"Primaris REIT\" or \"Primaris\") (TSX: PMZ.UN) today provides a business update following the completion of H&R REIT's spin-off of Primaris REIT into a new stand-alone, publicly traded real estate investment trust, which closed on\n \n December 31, 2021\n \n .\n \n \n \"Primaris REIT begins 2022 as a newly independent Canadian REIT with a strong balance sheet, an exceptional team and operating platform, and a sizable market opportunity,\" said\n \n Alex Avery\n \n , Chief Executive Officer of Primaris REIT.\n \n \n Approval from the Toronto Stock Exchange (the \"TSX\") for the listing and posting for trading of the Primaris REIT Units has been received, and Primaris REIT Units will begin trading on the TSX under the trading symbol \"PMZ.UN\" on\n \n January 5, 2022\n \n .\n \n \n Concurrent with the commencement of trading of PMZ.UN, Primaris REIT is expected to be added to all indices where H&R REIT is a constituent, including the S&P/TSX Composite Index and S&P/TSX Capped REIT Index.\n \n \n \n \n $800 Million\n \n HOOPP Transaction Complete, Bolstering Scale, Diversification\n \n \n \n Immediately following the spin-off, Primaris REIT completed the ac...