Retrocom Mid-Market Real Estate Investment Trust

Retrocom Mid-Market Real Estate Investment Trust

June 16, 2009 16:50 ET

Retrocom Mid-Market REIT Announces June 2009 Monthly Distribution and Closing of Property Sale

TORONTO, ONTARIO--(Marketwire - June 16, 2009) -


Retrocom Mid-Market Real Estate Investment Trust (the "REIT") (TSX:RMM.UN) announced today that the cash distribution for the month of June 2009 will be $0.0375 per unit, or $0.45 per unit on an annual basis and will be payable on July 15, 2009 to Unitholders of record as of June 30, 2009.

Distributions paid to Unitholders who are non-residents of Canada will be subject to Canadian withholding tax.

The REIT also announced that it closed the sale of two Manitoba properties for net cash proceeds to the REIT of approximately $2.2 million as previously announced. David Fiume, Chief Executive Officer of the REIT, noted "The sale of these two non-core properties was in accordance with the REIT's longer term plan to continue to review the composition of the REIT's portfolio and to transact on assets that better meet the objectives of the REIT moving forward".

The REIT has cash of approximately $13 million and undrawn lines of credit of approximately $15 million.

About Retrocom Mid-Market REIT

Retrocom Mid-Market REIT is an Ontario unincorporated open-end real estate investment trust which focuses on owning and acquiring mid-market commercial properties in primary and secondary cities across Canada with the objective of producing a geographically diversified portfolio of properties with stable and growing cash flows.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, which may be made only by means of a prospectus, nor shall there be any sale of the Units in any state, province or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of any such state, province or other jurisdiction. The Units of the Retrocom Mid-Market REIT have not been, and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or delivered in the United States absent registration or an application for exemption from the registration requirements of U.S. securities laws.

Contact Information

  • Retrocom Mid-Market Real Estate Investment Trust
    David Fiume
    Chief Executive Officer
    (416) 741-7999 x227
    (416) 741-7993 (FAX)