Calloway Real Estate Investment Trust

Calloway Real Estate Investment Trust

September 09, 2005 14:00 ET

Calloway Real Estate Investment Trust Announces Prospectus Filing

CALGARY, ALBERTA--(CCNMatthews - Sept. 9, 2005) -

Not for distribution to U.S. News wire services or dissemination in the U.S.

Calloway REIT (TSX:CWT.UN) today announced that it has filed a preliminary base shelf short form prospectus qualifying up to $2 billion in debt or equity securities from time to time over the 25 months that the base shelf prospectus remains valid and that it intends to file a preliminary prospectus supplement qualifying five year Series A Senior Unsecured Debentures under the preliminary base shelf prospectus. A syndicate led by RBC Dominion Securities Inc. and including Scotia Capital Inc. will act as agents for the sale of the Series A Debentures. Calloway anticipates that it will raise gross proceeds of approximately $150 million from the sale of Series A Debentures.

Calloway Real Estate Investment Trust is an unincorporated closed-end real estate investment trust focused on the acquisition of high quality retail properties.

This press release contains "forward looking statements" subject to various significant risks and uncertainties which may cause actual results, performances or achievements of Calloway to be materially different from any future results, performances or achievements expressed or implied by such forward looking statements. Such risk factors include, but are not limited to, risks associated with real property ownership, availability of cash flow, restrictions on redemption, general uninsured losses, future property acquisitions, environmental matters, tax related matters, debt financing, Unitholder liability, potential conflicts of interest, potential dilution, and reliance on key personnel. Calloway cannot assure investors that actual results will be consistent with these forward looking statements and Calloway assumes no obligation to update or revise them to reflect new events or circumstances.

The Toronto Stock Exchange neither approves nor disapproves of the contents of this Press Release.

Contact Information

  • Calloway Real Estate Investment Trust
    Simon Nyilassy
    President and Chief Executive Officer
    (905) 326-6400 (ext. 7649)