TORONTO--(BUSINESS WIRE)--Agellan Commercial Real Estate Investment Trust (the “REIT”) (TSX: ACR.UN) announced today the amendment and reinstatement of its Unitholder Distribution Reinvestment Plan (the “DRIP”) effective for future distributions declared by the REIT. Eligible Unitholders that choose to participate in the DRIP will have their monthly cash distributions used to purchase trust units of the REIT.
Eligible Unitholders who were previously participating in the DRIP at the time of its suspension will automatically resume participation in the DRIP and no action is required.
Eligible Unitholders that had not previously opted in to the DRIP but now wish to do so may elect to participate by contacting their broker, investment dealer or financial institution holding their trust units. Unitholders who are not residents of Canada are not permitted to participate in the DRIP.
While the amended DRIP no longer provides participants with a 3% “bonus distribution” of trust units of the REIT, it still provides participants with the opportunity to accumulate additional trust units of the REIT without incurring any commissions, service charges or brokerage fees.
Complete details of the DRIP are available on the REIT’s website at www.agellanreit.com.
First Quarter Conference Call
The REIT also announced today that it will hold a conference call to discuss its financial performance for the three-month period ended March 31, 2016 on Tuesday, May 10, 2016 at 2:00 p.m. EST. The REIT’s financial results will be released prior to the call.
To access the call, please dial 416-340-2217 or 1-866-696-5910 and enter the participant pass code: 7788954. For operator assistance during the call, please press *0.
A replay of the conference call will be available from 5:00 p.m. EST on May 10, 2016 until midnight EST on May 24, 2016. To access the replay, call 905-694-9451 or 1-800-408-3053 and enter participant pass code: 4064653.
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 was 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 32 properties. The properties are primarily located in major urban markets in the United States and Canada.
Forward-Looking Statements
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.