WINNIPEG, March 5 /CNW/ - Huntingdon Real Estate Investment Trust
("HREIT") (TSX: HNT.UN) announced today that it has initiated a strategic
review process aimed at enhancing the market trading price of its units to
more closely reflect the underlying value of its assets.
The Board of Trustees has established a Special Committee comprised of
all the Independent Trustees and Chaired by Gary Goodman. The Special
Committee has retained RBC Capital Markets as its financial advisor to assist
with the review of the alternatives that may be available to HREIT in its
efforts to enhance unit value. Unitholders are cautioned that there is no
guarantee that this strategic review process will lead to any particular
course of action.
HREIT is a real estate investment trust, which is listed on the Toronto
Stock Exchange under the symbol HNT.UN. HREIT owns 74 income producing office,
industrial and retail properties that have a total gross leaseable area of
5.4 million square feet; three properties that are being held for development;
and four standalone parking lots. The properties are located in Manitoba,
Ontario, Saskatchewan, Alberta, British Columbia and Northwest Territories.
HREIT also owns a third party property management business. The objective of
HREIT is to provide Unitholders with stable cash distributions from investment
in a geographically diversified Canadian portfolio of commercial real estate
properties. There are currently 72,299,052 trust units outstanding. For
further information on HREIT, please visit our website at www.hreit.ca.
The TSX has not reviewed or approved the contents of this press release
and does not accept responsibility for the adequacy or accuracy of this
For further information:
For further information: Arni Thorsteinson, President & Chief Executive
Officer, or Gino Romagnoli, Investor Relations, Tel: (204) 475-9090, Fax:
(204) 452-5505, Email: email@example.com