SmartREIT Declares Distribution for October 2016
/EINPresswire.com/ -- TORONTO, ONTARIO--(Marketwired - Oct 19, 2016) - Smart Real Estate Investment Trust (TSX:SRU.UN) announced that the trustees of SmartREIT have declared a distribution for the month of October 2016 of CDN $0.14167 per trust unit, representing CDN $1.70 per unit on an annualized basis. Payment will be made on November 15, 2016 to unitholders of record on October 31, 2016.
SmartREIT offers Canadian unitholders the option to participate in a Distribution Reinvestment Plan ("DRIP"), a convenient and economical opportunity to automatically reinvest monthly distributions in additional units without the payment of any commissions, service charges or brokerage fees, at a price equal to 97% of the average TSX market price over the 10 business days preceding the monthly distribution date. Additional information regarding the DRIP is available at http://www.smartreit.com/investing/distributions/.
SmartREIT is one of Canada's largest real estate investment trusts with total assets in excess of $8.6 billion. It owns and manages in excess of 31 million square feet in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartREIT is a joint-venture partner in the Toronto and Montreal Premium Outlets with Simon Property Group. SmartREIT's core vision is to provide a value-oriented shopping experience in all forms to Canadian consumers and over time create high quality mixed use developments in urban settings.
With SmartREIT's 2015 acquisition of SmartCentres, SmartREIT has transformed into a fully integrated real estate provider. SmartREIT and SmartCentres have had a long and successful alliance, helping to provide Canadians with value-focused retail shopping centres across the country. Now, the alliance has grown even stronger, the result is a fully integrated real estate provider with expertise in planning, development, leasing, operations and construction - all under one roof. For more information on SmartREIT, visit www.smartreit.com.
Chief Financial Officer
Smart Real Estate Investment Trust
(905) 326-6400 ext. 7865