Huntingdon Capital Corp. Announces Filing of Preliminary Prospectus of FAM Real Estate Investment Trust

RICHMOND, BC, Nov. 14, 2012 /CNW/ - Huntingdon Capital Corp. ("Huntingdon") (TSX: HNT, HNT.DB and HNT.WT) announced today that FAM Real Estate Investment Trust (the "REIT"), a newly formed real estate investment trust established by Huntingdon, has filed a preliminary prospectus in respect of an initial public offering (the "Offering").  On closing of the Offering, the REIT intends to acquire a portfolio of 27 properties comprised of industrial, office and retail properties (the "Properties") from Huntingdon.  The Properties represent approximately 1.7 million square feet of gross leasable area and are located in Manitoba (18 properties), Alberta (four properties), Saskatchewan (two properties), Ontario (two properties) and the Northwest Territories (one property).

Huntingdon will serve as asset and property manager for the REIT pursuant to a management agreement (the "Management Agreement") to be entered into on closing of the Offering.  The Offering is being led by TD Securities Inc. and National Bank Financial Inc.  For further details on the Offering see the REIT's preliminary prospectus which has been filed on SEDAR at www.sedar.com.

Pursuant to the Management Agreement, Huntingdon will provide strategic, asset management, administrative, property management, leasing, construction management and administrative services necessary to manage the day-to-day operations of the REIT and its assets. Shant Poladian will serve as chief executive officer of the REIT.  Mr. Poladian was previously an Equity Research Analyst, and Managing Director, covering real estate equity securities and REITs at Canaccord Genuity Corp, where he was employed from 2003 to 2012.  Previously, Mr. Poladian worked at BMO Nesbitt Burns as an integral member of a top ranked equity research team covering real estate equity securities and REITs from 2001 to 2003. Mr. Poladian earned his Chartered Accountant (Ontario) designation in 2001, following three years of employment at Deloitte & Touche LLP providing Assurance and Advisory services. He also earned his Certified Public Accountant designation in the state of Delaware. Mr. Poladian has a Bachelor of Commerce from the University of Toronto.  Sandeep Manak will serve as the Chief Financial Officer of the REIT.

Huntingdon believes that the Offering will provide Huntingdon with an attractive purchase price for the Properties and further Huntingdon's previously announced transition into a diversified asset management company.

A preliminary prospectus containing important information relating to the Offering has been filed with securities commissions or similar authorities in certain jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued. 

Completion of the sale transaction is subject to the successful completion of the Offering and the satisfaction of a number of conditions, including Huntingdon board approval and the receipt of all applicable regulatory approvals.

The securities of the REIT have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of that Act.  This news release does not constitute an offer for sale of the securities of the REIT in the United States of America.

About Huntingdon

Huntingdon is a real estate operating company listed on the TSX (Common Shares: HNT; Debentures: HNT.DB; Warrants: HNT.WT). Huntingdon owns and manages a portfolio of industrial, office, retail and aviation-related properties throughout Canada that have a total gross leasable area of 4.5 million square feet.

About FAM Real Estate Investment Trust

FAM Real Estate Investment Trust is an unincorporated, open-ended trust established under the laws of the Province of Ontario. The REIT has been formed to own, develop and acquire industrial, office and retail properties. On closing of the initial public offering, the REIT will indirectly acquire the Properties. Huntingdon will provide strategic, asset management, administrative, property management, leasing, construction management and administrative services necessary to manage the day-to-day operations of the REIT and its assets pursuant to the terms of the Management Agreement.

Forward-Looking Statements

This press release may contain forward-looking statements with respect to Huntingdon and its operations, strategy, financial performance and financial condition. These statements generally can be identified by the use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intend', "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of Huntingdon discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors; the state of the capital markets, including the ability of Huntingdon and the REIT to price the sale transaction and the initial public offering on satisfactory terms; the satisfaction of conditions to the sale transaction and the initial public offering, including receipt of requisite approvals; competition; changes in securities or other laws or regulations or the application thereto. The cautionary statements qualify all forward-looking statements attributable to Huntingdon and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release. Except as required by applicable law, Huntingdon specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

The Toronto Stock Exchange has not reviewed nor approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.

SOURCE: Huntingdon Capital Corp.

For further information:

Zachary R. George, Director, President and Chief Executive Officer
Tel: (604) 249-5119
Fax: (604) 249-5101
Email: zgeorge@huntingdoncapital.com