FREDERICTON, NB, Oct. 18, 2017 /CNW/ - Plaza Retail REIT ("Plaza") (TSX:PLZ.UN) today announced its October 2017 monthly distribution in the amount of $0.0225 per unit ($0.27 annualized). The October distribution will be payable on November 15, 2017 to unitholders of record as at October 31, 2017.
Under Plaza's Distribution Reinvestment Plan ("DRIP") unitholders are able to reinvest distributions in additional units at a 3% discount. Units purchased under the DRIP are not subject to the payment of brokerage commissions. Units will be valued at the weighted average closing price on the previous 5 trading days.
Plaza is an open-ended real estate investment trust and is a leading retail property owner and developer, particularly in Eastern Canada. Plaza's portfolio at June 30, 2017 includes interests in 296 properties totaling approximately 7.6 million square feet across Canada and additional lands held for development. Plaza's properties include a mix of strip plazas, stand-alone small box retail outlets and enclosed shopping centres, anchored by approximately 91% national tenants.
SOURCE Plaza Retail REIT
For further information: please visit www.plaza.ca or contact: Floriana Cipollone, Chief Financial Officer, Plaza Retail REIT, Tel: 416.848.4583; Kim Sharpe, Director of Business Development, Plaza Retail REIT Tel: 506.357.7901
Plaza Retail REIT is an owner of shopping malls and strip plazas throughout the Atlantic Provinces, Quebec and Ontario. Plaza owns interests in 108 properties comprising 4.9 million square feet of retail real estate.