Charter Real Estate Investment Trust

Charter Real Estate Investment Trust

September 06, 2007 12:34 ET

Charter Real Estate Investment Trust (TSX-V: CRH.UN) Grants Options

TORONTO, ONTARIO--(Marketwire - Sept. 6, 2007) - Charter Real Estate Investment Trust ("Charter REIT")(TSX VENTURE:CRH.UN) has granted an aggregate of 1,200,000 incentive unit options (the "Options") to certain of its trustees, officers, and consultants. The Options have a term of five years and shall vest in equal proportions on each of the following three dates: September 5, 2007, September 5, 2008 and September 5, 2009. Upon vesting, each Option shall entitle the holder thereof to purchase one unit of Charter REIT at a price of $3.45 until September 5, 2012.

All Options shall become fully vested and exercisable upon any change of control.

Charter REIT

Charter Real Estate Investment Trust is an open-ended real estate investment trust established under the laws of the Province of Ontario. Charter REIT is focused on acquiring a portfolio of retail and mixed-use retail real estate comprised of stable cash flow and value-add properties from both primary and secondary markets throughout Canada, with the principal goal of generating a reliable and growing yield for its investors. Charter REIT currently owns five commercial real estate properties located in Ontario and Quebec.

This press release contains forward-looking statements. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and Charter REIT undertakes no obligation to update such statements except as required by law.

The Exchange Tower
130 King Street West
Suite 2810, P.O. Box 104
Toronto, Ontario M5X 1A4

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Charter Real Estate Investment Trust
    Ari Silverberg
    President and Chief Operating Officer
    (416) 364-5705
    (416) 861-8166 (FAX)
    Charter Real Estate Investment Trust
    Floriana Cipollone
    Chief Financial Officer
    (416) 364-5705
    (416) 861-8166 (FAX)