TORONTO--(BUSINESS WIRE)--Agellan Commercial Real Estate Investment Trust (“Agellan” or the “REIT”) (TSX: ACR.UN):
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES
Agellan Commercial Real Estate Investment Trust (“Agellan” or the “REIT”) (TSX: ACR.UN) announced today that its Board of Trustees has declared a distribution of $0.0675 per unit for the month of May 2018, representing $0.810 per unit on an annualized basis. The distribution will be payable on June 15, 2018 to unitholders of record as at May 31, 2018.
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. 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 major urban markets in the United States and Canada.
The REIT’s 46 properties contain 7.3 million square feet of gross leasable area, with the REIT’s ownership interest at 6.9 million square feet. The properties are located in major urban markets in the United States and Canada. Following the previously announced sale of the REIT’s Parkway Place complex, the REIT’s 44 properties will contain 6.4 million square feet of gross leasable area, with the REIT’s ownership interest at 6.0 million square feet.