H&R REIT $22.71 (Toronto symbol HR.UN; Units outstanding: 274.1 million; Market cap: $6.1 billion; TSINetwork Rating: Extra Risk; Dividend yield: 5.9%; www.hr-reit.com) is selling part ownership of 101 industrial properties in Canada and the U.S. for $731 million. In all, these buildings comprise 19.5 million square feet. The buyers include the Canadian Public Sector Pension Investment Board.
H&R will keep a 50% interest in the Canadian properties and a 49.5% stake in the U.S. portfolio. It will keep managing these assets and will receive fees for doing so. H&R will retain full ownership of 14 other industrial properties.
The REIT will use the proceeds to pay down debt and buy more shopping malls and office buildings.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Changes to this Policy
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