Scott's REIT acquires new Home Outfitters-anchored retail centre in Quebec



    Marks second completed acquisition in the past month

    TORONTO, Aug. 20 /CNW/ - Scott's Real Estate Investment Trust (TSX:
SRQ.UN) ("Scott's REIT"), Canada's leading owner of small-box retail
properties, announced today that it has completed the acquisition of an
income-producing property in Anjou, Quebec that is immediately accretive to
earnings. Anjou is a borough of Montreal, located just east of the city on the
Island of Montreal.
    Under its small-box retail acquisition program, Scott's REIT acquired the
47,400 sq. ft. retail centre located at a high-traffic intersection. The
retail centre is anchored by a Home Outfitters and tenanted by an A&W and
Shell service station. The leases are long-term with an average length of 8.7
years.
    "This attractive property is tenanted by well-known brands in Quebec and
located in a thriving borough of Montreal," said Evelyn Sutherland, Chief
Financial Officer of Scott's REIT. "This is our second acquisition this
quarter, demonstrating our ongoing commitment to strategically increase our
asset base and provide added value for our unitholders."
    The property was purchased for $11,850 and financed through an assumption
of a first mortgage, a vendor take back note and cash on hand.

    About Scott's Real Estate Investment Trust

    Scott's REIT (TSX: SRQ.UN) is Canada's premier small-box retail property
owner with 207 properties in seven provinces across Canada. Scott's REIT's
properties are well-located and geographically diverse across Canada and
nearly all properties are long-term quadruple net leases. The REIT has a
70.5 per cent interest in Scott's Real Estate LP. To find out more about
Scott's Real Estate Investment Trust (TSX: SRQ.UN), visit our website at
http://www.scottsreit.com.

    Forward-looking Statements

    This media release contains forward-looking statements. Such statements
are based on current expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might differ
materially from projections suggested in any forward-looking statements due to
factors such as the competitive nature of the quick service restaurant
industry, the ability of Scott's REIT and Scott's Real Estate LP to execute a
growth and development strategy, the reliance of Scott's REIT and Scott's Real
Estate LP on key personnel, and risk associated with the structure of income
trusts. Scott's REIT and Scott's RE LP assume no obligation to update the
forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements. Additional
information identifying risks and uncertainties is contained in Scott's REIT
filings with the Canadian securities regulators, available at www.sedar.com.

    %SEDAR: 00022537E




For further information:

For further information: For investor information, please contact: Trish
Moran, (416) 624-5133, trish.moran@scottsreit.com; For media information,
please contact: Wilcox Group, (416) 203-6666, scottsreit@wilcoxgroup.com

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