Canadian Real Estate Investment Trust
TSX : REF.UN

Canadian Real Estate Investment Trust

April 07, 2009 09:16 ET

Canadian Real Estate Investment Trust Announces Closing of Unit Financing of $100 Million

TORONTO, ONTARIO--(Marketwire - April 7, 2009) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

Canadian Real Estate Investment Trust ("CREIT") (TSX:REF.UN) today announced that it has closed the previously announced sale of 4,950,750 Units at a price of $20.20 per Unit for aggregate gross proceeds of $100,005,150 to a syndicate of underwriters led by RBC Capital Markets on a bought-deal basis.

The Units have not been registered under the U.S. Securities Act of 1933, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.

CREIT is a real estate investment trust focused on accumulating a portfolio of high-quality real estate assets and delivering the benefits of real estate ownership to Unitholders. The primary benefit is a reliable and, over time, increasing monthly cash distribution. CREIT owns a portfolio of more than 160 retail, office and industrial properties.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements relating to CREIT's operations and the environment in which CREIT operates, which are based on CREIT's expectations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. CREIT undertakes no obligation to publicly update any such statement, to reflect new information or the occurrence of future events or circumstances, except as required by law.

Contact Information

  • Canadian Real Estate Investment Trust
    Stephen Johnson
    President & Chief Executive Officer
    416-628-7878
    Email: sjohnson@creit.ca
    or
    Canadian Real Estate Investment Trust
    Tim McSorley
    Vice President & Chief Financial Officer
    416-628-7790
    Email: tmcsorley@creit.ca
    Website: www.creit.ca