Business News • MarketWire • Partners Real Estate Investment Trust to Acquire Four New Ontario Properties |
Partners Real Estate Investment Trust to Acquire Four New Ontario Properties |
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Partners Real Estate Investment Trust to Acquire Four New Ontario Properties
VICTORIA, BRITISH COLUMBIA--(Marketwired - Dec. 18, 2013) - Partners Real Estate Investment Trust (TSX:PAR.UN) (the "REIT" or "Partners REIT") announced today that it has entered into an purchase and sale agreement (the "Agreement") to acquire four retail centers in Ontario (collectively, the "Properties"). The Properties are located in Hamilton, London, Kemptville and North Bay and total approximately 695,500 square feet of gross leasable area. The tenant roster of the Properties includes Shoppers Drug Mart, Winners, Giant Tiger and Dollar Tree. The Properties are estimated to generate annualized Net Operating Income in the aggregate of approximately $7,250,000.
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