TORONTO--(BUSINESS WIRE)--Agellan Commercial Real Estate Investment Trust ("Agellan” or the “REIT") (TSX:ACR.UN) announced today that the Trustees of Agellan have declared a distribution of $0.06458 per unit for the month of March, 2014, representing $0.775 per unit on an annualized basis. The distribution will be payable on April 15, 2014 to unitholders of record as at March 31, 2014.
Agellan offers a distribution reinvestment plan (“DRIP”) to unitholders whereby the participants may elect to have their cash distributions used to purchase trust units of the REIT and will also receive a "bonus distribution" of units equal in value to 3% of each distribution. Unitholders wishing to participate should contact their investment advisors to enroll in the DRIP.
About Agellan Commercial Real Estate Investment Trust
The REIT is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been created for the purpose of acquiring and owning industrial, office and retail properties in select target markets in the United States and Canada.
The REIT's current portfolio aggregates approximately 4.7 million square feet of gross leasable area in 27 properties. The properties are primarily located in major urban markets in the United States and Canada.
This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the REIT’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the REIT’s control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. These forward-looking statements are made as of the date of this press release and, except as expressly required by applicable law, the REIT assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.