H&R Real Estate Investment Trust
TSX : HR.UN

H&R Real Estate Investment Trust

October 11, 2005 08:05 ET

H&R Real Estate Investment Trust Announces $150 Million Offering of Trust Units

TORONTO, ONTARIO--(CCNMatthews - Oct. 11, 2005) - H&R Real Estate Investment Trust ("H&R") (TSX:HR.UN) has announced that it has entered into an agreement to sell, to a syndicate of underwriters led by CIBC World Markets Inc., 7,675,000 trust units at $19.55 per unit to raise gross proceeds of approximately $150 million. Closing is expected to occur on or about October 31, 2005, subject to regulatory approval. The proceeds of the offering will be used to fund acquisitions, repay indebtedness and for general trust purposes.

About H&R

H&R REIT is a TSX-listed, open-end real estate investment trust, which holds interests in a principally Canadian portfolio of 34 office, 102 industrial and 88 retail properties and 3 development projects, with a book value of $3.5 billion. The foundation of H&R's success is a disciplined strategy that leads to consistent and profitable growth.

H&R REIT has a distribution reinvestment plan for its unitholders, which allows participants to reinvest their monthly cash distributions in additional H&R units at an effective discount of 3%. Beneficial unitholders who would like to enroll in the plan should contact the nominee (stockbroker, bank, trust company or investment banker) with whom their units are registered.

Additional corporate information regarding H&R REIT is available at www.hr-reit.com.

The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirement of such Act. This release does not constitute an offer for sale of securities in the U.S. and any public offering of securities in the U.S. will be made by means of a prospectus.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Contact Information

  • H&R Real Estate Investment Trust
    Thomas J. Hofstedter
    President and Chief Executive Officer
    Toll-Free: (416) 635-7520 x555
    416-398-0040 (FAX)
    info@hr-reit.com