Canadian

InStorage REIT formally rejects hostile takeover bid

by creitadmin on November 7, 2008

InStorage REIT has been under hostile takeover attemps since October 16, 2008.  The board of InStorage recommened Monday that StorageMart’s bid of $3.75 per unit be formally rejected stating it was “much too low.”  The press release is available on The Canadian Press. 

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Artis REIT Continues Strong Growth Profile

by creitadmin on October 15, 2008

 WINNIPEG, Oct. 14 /CNW/ -  TMC Net Article

Artis Real Estate Investment Trust (TSX: AX.UN) (“Artis” or the “REIT”) confirmed that trading in REIT units, together with a group of other stocks, was temporarily halted on Friday, October 10th, 2008, due to a technical malfunction at the TSX. There is no material information relating to Artis that caused the trading halt.

In spite of the turbulence being experienced in global markets, Artis continues to have a very strong embedded growth profile. At June 30, 2008, Artis estimated that the gap between in place rental rates and current market rental rates was over $8 per square foot on average. Today, over 90% of the 2008 leasing program has been completed, as well as over 15% of the 2009 renewals. Management anticipates this will be an additional source of growth in revenues, Property NOI, DI and FFO per unit. 

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Canadian Tire sells 11 stores for $164M

September 23, 2008

Canadian Tire Corp. has sold 11 stores to two Canadian real estate trusts for $164.6 million in deals announced Monday. Canadian Real Estate Investment Trust, commonly known as CanReit, will buy eight properties for $137 million. Charter Real Estate Investment Trust will purchase three other stores for $27.3 million. Canadian Tire will continue to run [...]

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Charter REIT Announcement

September 23, 2008

MarketWatch published Charter REITs acquirement of Canadian Tire Portfolio,  secures $10 M in credit facilities, and reduces distribution to $0.16 per unit to strengthen balance sheet and fuel future growth.  Charter REIT is an open-ended real estate investment trust established under the laws of the Province of Ontario. Canadian Real Estate Investment Trust paid $137.3 million [...]

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