For further information and to obtain a copy of the early warning report to be filed under applicable Canadian securities laws in connection with the foregoing matters, please see Northview’s profile on SEDAR at www.sedar.com. The REIT’s properties are well located across Canada majorly in the largest markets. CREIT will then redeem all of its outstanding units for an aggregate of $22.50 in cash and 2.4904 Choice Properties units per CREIT unit, on a fully prorated basis. Starlight Group Property Holdings Inc.3280 Bloor Street WestSuite 1400Centre TowerToronto, ONM8X 2X3(416) 234-8444, KingSett Real Estate Growth LP No. Canadian Real Estate Investment Trust: Mario Barrafato, Executive Vice President and Chief Financial Officer, 416-628-7872, mbarrafato@creit.ca; Choice Properties Real Estate Investment Trust: Kim Lee, Vice President, Investor Relations and Business Intelligence, 416-324-7899, kim.lee@choicereit.ca; Laurel Hill Advisory Group: 1-877-452-7184 (toll-free for CREIT unitholders in … Forward-looking statements are typically identified by words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "strive", "will", "may" and "should" and similar expressions. March posted a total return of … Looks simple so I am confused. Closing Date: Nov 1, 1999 lexpert . Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) is a Canada-based open-ended real estate investment trust. April 2017. The term loan is structured in tranches maturing in 3, 4 and 5 years. Choice Properties' Board of Trustees has received an opinion from its financial advisor, TD Securities Inc., that as of the date thereof and subject to the assumptions, limitations and qualifications set forth therein, the consideration to be paid by Choice Properties to CREIT unitholders pursuant to the transaction is fair, from a financial point of view, to Choice Properties. CREIT unitholders will have the ability to choose whether to receive $53.75 in cash or 4.2835 Choice Properties units for each CREIT unit held, subject to proration. Assuming leadership roles at Choice Properties will be Mr. Stephen Johnson, as President and Chief Executive Officer, Mr. Rael Diamond, as Chief Operating Officer, and Mr. Mario Barrafato, as Chief Financial Officer. The proposed transaction is subject to approval under the Competition Act and by the TSX and the fulfillment of certain conditions, and there can be no assurance that any such approvals will be obtained and/or any such conditions will be met. John Morrison, President and CEO of Choice Properties, commented, "We are excited to be creating Canada's leading diversified REIT. As a result of the Unit Acquisitions, Starlight Group, Mr. Daniel Drimmer, D.D. Tweet . The primary benefit is a reliable and, over time, increasing monthly cash distribution. Ascendas Real Estate Investment Trust’s preferential offering was oversubscribed, raising gross proceeds of around S$396.5 million ($297.6 million), its manager said Thursday night in an exchange filing. Canadian Real Estate Investment Trust Contested Merger. residential equities real estate investment trust recommendation the offer and merger described in the accompanying documents form the principal parts of the transactions pursuant to which canadian apartment properties real estate investment trust (‘‘cap reit’’) proposes to acquire all of the issued and outstanding trust units (‘‘resreit units’’) of residential equities Choice Properties' strategy is to create value by enhancing and optimizing its portfolio through accretive acquisitions, strategic development and active property management. Starlight Group and KSLP7 effected the Unit Acquisitions for investment purposes and to reduce the cost of the acquisition of Northview. CREIT unitholders resident in Canada who receive cash generally will receive capital gains treatment on the redemption of their CREIT units. The Proposed Transaction is intended to modify the current structure of the Fund to ensure that the Fund will satisfy the definition of "real estate investment trust" in the Tax Act before January 1, 2011, such that the Fund will not be subject to the SIFT tax rules in the Income Tax Act (Canada) (the " SIFT Tax Rules ") after December 31, 2010. This expanded pipeline includes potential to capitalize on an established retail development and intensification program and to leverage joint venture partnerships to access attractive sites to fuel additional development. Wed, Sep 04, 2019 - 9:06 AM. A Cision company.Â, HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Choice Properties Real Estate Investment Trust. This press release for Choice Properties and CREIT contains forward-looking statements about the proposed acquisition by Choice Properties of CREIT. Forward-looking statements reflect current estimates, beliefs and assumptions, which are based on Choice Properties' and CREIT's perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. TORONTO, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Starlight Group Property Holdings Inc. (“ Starlight Group ”) and KingSett Real Estate Growth LP No. Choice Properties calculates NOI as rental revenue, excluding straight-line rent, from investment properties less property operating costs. This will increase liquidity for the proforma Choice Properties units, which is expected to make them eligible for inclusion in relevant indices. Choice Properties and CREIT disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Under applicable TSX rules, the transaction also requires the approval of Choice Properties' unitholders by majority vote, as the number of Choice Properties units to be issued in the transaction exceeds 25% of the total number of outstanding Choice Properties units. Centurion Apartment Real Estate Investment Trust (private) (Dividend Info) Equiton Residention Income Fund Trust (private) ( Homepage ) ( Dividend Info ) InterRent REIT ( … The resulting enterprise will have industry leading operating and development capabilities as well as an unparalleled diversified portfolio comprising 752 properties with 69 million square feet of GLA. About Canadian Real Estate Investment Trust. 7 (“ KSLP7 ”) announced today that Starlight Group … Choice Properties and Canadian Real Estate Investment Trust Combine to Form Canada's Largest REIT in a $6.0 Billion Transaction News provided by Choice Properties Real Estate Investment Trust Copies of the arrangement agreement, management proxy circular and information statement will be available on SEDAR at www.sedar.com. Choice Properties' principal tenant and largest unitholder is Loblaw, Canada's largest retailer. This combined entity will be Canada's preeminent diversified REIT. Upon closing, Mr. John Morrison will step down as President and Chief Executive Officer of Choice Properties and will serve as non-executive Vice Chairman of the combined REIT, providing guidance to the combined organization. In the combined REIT, John Morrison will become the Vice Chairman of the Board of Trustees and Stephen Johnson will be the President and CEO.". Choice Properties' expanded diversified real estate portfolio, anchored by Canada's largest retailer, will provide unitholders of both Choice Properties and CREIT the opportunity to capitalize on the future growth and value creation opportunities of this strategic transaction. Following the transaction, Loblaw and GWL (TSX:WN) will own approximately 62% and 4% of the proforma entity, respectively. The consolidated development pipeline presents meaningful value creation opportunities. There can be no assurance that the proposed transaction will occur or that the anticipated strategic benefits will be realized. Choice Properties was spun out by Loblaw Cos. Ltd. in 2013 and the grocery chain is its biggest tenant today. The offering was part of an equity fundraising exercise, announced last month, alongside a private placement that raised about S$800 million. The public unitholder base for Choice Properties will significantly increase, with approximately 35% of the proforma entity owned widely by the public. Loblaw, Choice Properties' controlling unitholder, has entered into a voting agreement in support of the transaction. Numerous risks and uncertainties could cause the combined entity's actual results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements, including, but not limited to: failure to realize anticipated results and strategic benefits; general economic conditions, including changes in interest rates and the rate of inflation; failure of the combined entity to manage growth effectively in accordance with its growth strategy or acquire assets on an accretive basis; changes in timing to obtain municipal approvals, development costs, and tenant leasing and occupancy of properties under development, redevelopment or intensification; changes in competitiveness in the real estate market or the unavailability of desirable commercial real estate assets; the ability to maintain occupancy and to timely lease or re-lease space at current or anticipated rents; tenant bankruptcies, tenant defaults, joint venture and/or co-ownership partner defaults; changes in operating costs and capital expenditures; lack of liquidity of real property and the availability of financing; the inability to make distributions or other payments or advances; the inability of Choice Properties to maintain and leverage its relationship with Loblaw, including in respect of (i) Loblaw's retained interest in Choice Properties, (ii) the services to be provided to Choice Properties (whether directly or indirectly) by Loblaw, (iii) expected transactions to be entered into between Loblaw and Choice Properties (including Choice Properties' acquisition of certain properties held by Loblaw) and (iv) the strategic alliance agreement between Choice Properties and Loblaw dated July 5, 2013; changes in Loblaw's business, activities or circumstances which may impact Choice Properties, including Loblaw's inability to make rent payments or perform its obligations under its leases; and changes in laws or regulatory regimes which may affect the combined entity, including changes in their tax treatment and distributions to unitholders, or the inability of the combined entity to continue to qualify as a "mutual fund trust" and as a "real estate investment trust", as such terms are defined in the Income Tax Act (Canada). Choice Properties and CREIT Complete Transaction to Create Canada's Preeminent Diversified REIT. The retail portfolio (78% of NOI) is focused on necessity based retailers (85% of the retail assets) and provides a solid foundation of stable and growing cash flows. Since February 19, 2020, 297,239 Northview Units were acquired by Starlight Group pursuant to Northview’s Distribution Reinvestment Program. ", Stephen Johnson, CEO of CREIT, said "This transformational combination creates immediate value for CREIT and provides tremendous opportunity for Choice Properties to capitalize on Canada's leading development pipeline and create long term value. An investor presentation will be made available on the Choice Properties and CREIT respective websites immediately prior to the call (please visit: www.choicereit.ca or www.creit.ca). CREIT's Board of Trustees has received an opinion from its financial advisor, RBC Capital Markets, that as of the date thereof and subject to the assumptions, limitations and qualifications set forth therein, the consideration to be received by unitholders of CREIT pursuant to the transaction is fair, from a financial point of view, to unitholders of CREIT. CT Real Estate Investment Trust Declares Distribution for the Period of December 1, 2020 to December 31, 2020 December 10, 2020 CT REIT Announces Offering of $150M 2.371% Series G Senior Unsecured Debentures due January 6, 2031 and Redemption of $150M 2.159% Series C Senior Unsecured Debentures due June 1, 2021 No shareholder is going to vote against the merger and watch their stock tank to around $40. H&R REIT (TSX: HR.UN) is one of Canada’s largest fully internalized real estate investment trusts with total assets of approximately $13.3 billion at September 30, 2020. This press release uses the following non-GAAP measures: NOI (Net Operating Income). The Class C LP units are convertible by their terms into Class B LP units commencing in 2027 and the conversion of the Class C LP units on closing of the transaction will be effected in accordance with those terms. Choice Properties is a Real Estate Investment Trust that owns, manages and develops retail and commercial real estate across Canada. 7 (“KSLP7”) announced today that Starlight Group and KSLP7 have acquired 1,016,739 trust units (the “Northview Units”) of Northview Apartment Real Estate Investment Trust (“Northview”) (the “Unit Acquisitions”). The TSX has advised Choice Properties that, as Loblaw holds an approximately 82% voting interest in Choice Properties, it will accept Loblaw's agreement to support the transaction as evidence of unitholder approval and not require Choice Properties to hold a unitholder meeting. Choice Properties has also arranged a new $1.5 billion committed revolving credit facility, that will replace its and CREIT's existing credit facilities ensuring that Choice Properties will have maximum flexibility to support ongoing growth prospects including acquisitions and development. REITs. The transaction will be carried out by way of a court-approved plan of arrangement and will require the approval of at least 66 2/3% of the votes cast by the unitholders of CREIT at a special meeting expected to take place in April 2018. These committed facilities consist of an $850 million bridge facility that Choice Properties intends to refinance through the issuance of senior unsecured debentures and a $1.25 billion term loan. TORONTO, Feb. 15, 2018 /CNW/ - Choice Properties Real Estate Investment Trust (TSX:CHP.UN, "Choice Properties") and Canadian Real Estate Investment Trust (TSX:REF.UN, "CREIT") today announced an agreement pursuant to which Choice Properties will acquire all of CREIT's assets and assume all of its liabilities, including long-term debt and all residual liabilities. CAPREIT is focused on the management of properties, acquisitions and financial management, and reinvest capital within the property portfolio. On February 19, 2020, affiliates of Starlight Group together with affiliates of KSLP7 entered into an arrangement agreement with, among others, Northview, pursuant to which unitholders of Northview will receive cash consideration of $36.25 per Northview Unit by way of a plan of arrangement under the Business Corporations Act (Alberta). THE trust scheme of arrangement for the merger of OUE Commercial Real Estate Investment Trust (C-Reit) and OUE Hospitality Trust (H-Trust) on Wednesday morning became effective and binding. Prior to the Unit Acquisitions, Starlight and KSLP7 were deemed to beneficially own an aggregate of 9,411,957 Northview Units representing 13.92% of all outstanding Northview Units (on a non-diluted basis). This follows the approval from holders of both trusts on Aug 14 as well as the High Court’s sanction of the trust … "Loblaw and GWL continue to be fully committed to Choice Properties as a strong pillar of growth within the Weston Group of Companies. Other risks and uncertainties not presently known to Choice Properties and CREIT or that Choice Properties and CREIT presently believe are not material could also cause actual results or events to differ materially from those expressed in its forward-looking statements. Additional income through monthly distributions of roughly 0.41% per month. Choice Properties plans to issue a maximum of approximately 70.9 million units upon the conversion and, if required, to pay any shortfall in value on closing in cash. Under the terms of the waiver, Starlight and KSLP7 and their respective affiliates are restricted from acquiring Northview Units which, together with Northview Units already owned, would exceed 19.99% of the outstanding Northview Units. The arrangement agreement provides that CREIT is subject to non-solicitation provisions and provides that the Board of Trustees of CREIT may, under certain circumstances, terminate the agreement in favour of an unsolicited superior proposal, subject to payment of a termination fee of $95 million to Choice Properties and subject to a right of Choice Properties to match the superior proposal in question. CREIT is a real estate investment trust focused on accumulating and aggressively managing a portfolio of high-quality real estate assets and delivering the benefits of real estate ownership to unitholders. The maximum amount of cash to be paid by Choice Properties will be approximately $1.65 billion and approximately 183 million units will be issued, based on the fully diluted number of CREIT units outstanding. More information regarding these non-GAAP measures and a reconciliation of each to the nearest IFRS financial measure is available in Choice Properties' most recent management's discussion and analysis filed on SEDAR (www.sedar.com). About Choice Properties Real Estate Investment Trust. To facilitate Choice Properties' financing for the transaction, Loblaw has agreed to convert all of its outstanding Class C LP units of Choice Properties Limited Partnership with a face value of $925 million ("Class C LP units") into Class B LP units of Choice Properties Limited Partnership ("Class B LP units") on closing. NOI is a supplemental measure of operating performance widely used in the real estate industry. This press release contains forward-looking statements concerning: the combined entity's financial position; growth prospects of the combined entity; certain strategic benefits of the transaction; intensification and development opportunities; management and governance of the combined entity; conversion of Loblaw's Class C LP units into Class B LP units on closing and related matters; the timing of the CREIT's unitholders meeting and publication of related unitholder materials; the timing of publication of Choice Properties' information statement; the expected completion date of the proposed transaction; the anticipated tax treatment of the proposed transaction for CREIT unitholders; leverage of the combined entity following closing of the transaction; and the combined entity's anticipated future results and development opportunities. Choice Properties and CREIT can give no assurance that such estimates, beliefs and assumptions will prove to be correct. TORONTO, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Starlight Group Property Holdings Inc. (“Starlight Group”) and KingSett Real Estate Growth LP No. Choice Properties' Board of Trustees has unanimously determined that the transaction is in the best interests of Choice Properties. Lead Office. A recent spate of mergers in U.S. real estate investment trusts has some investors giving the underperforming sector another look. Choice Properties is an owner, manager and developer of well-located retail and commercial real estate across Canada. Artis is a diversified Canadian real estate investment trust investing primarily in industrial and office properties in select markets in Canada and the United States. H&R REIT has ownership interests in a North American portfolio of high quality office, retail, industrial and residential properties comprising over 40 million square feet. Choice Properties will finance the cash portion of the transaction with committed credit facilities fully underwritten by TD Securities totaling $3.6 billion. OUE real-estate investment trust (Reit) merger follows Viva-ESR; hope is to create better liquidity in stocks. Further information regarding the transaction will be included in the management proxy circular expected to be mailed to CREIT unitholders in March 2018. The Unit Acquisitions made on the Toronto Stock Exchange were made in accordance with Northview’s waiver of a standstill agreement as announced by Northview on March 23, 2020. As a condition of the exemption, Loblaw will undertake to not exercise its right to vote the special voting units of Choice Properties issued in connection with the Class B LP units, or to exchange or transfer the Class B LP units, until the date on which the Class C units would otherwise have become convertible in accordance with their terms. Choice Properties and CREIT will host an investor conference call and webcast on February 15, 2018 at 8am EDT, (647) 427-7450 or (888) 231-8191. NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES. Senior management of Choice Properties and CREIT will be available to discuss the details of the transaction. The resulting enterprise will have an For non-cultural investments: zero reviewable investment approvals and 82 notifications filed (43 for acquisitions and 39 for establishment of a new Canadian business) Country of origin of investor (non-cultural): U.S. (62 per cent), India (nine per cent), and U.K. (seven per cent) A high-level overview of Canadian Apartment Properties Real Estate Investment Trust (CDPYF) stock. February 2018 Canadian Real Estate Investment Trust agreed to be purchased by Choice Properties Real Estate Investment Trust, the real estate arm of Loblaw Companies Limited. 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