SmartREIT Declares Distribution for April 2016
TORONTO, ONTARIO--(Marketwired - April 19, 2016) -
Smart Real Estate Investment Trust (TSX:SRU.UN) announced that the trustees of SmartREIT have declared a distribution for the month of April 2016 of CDN $0.1375 per trust unit, representing CDN $1.65 per unit on an annualized basis.
Payment will be made on May 16, 2016 to unitholders of record on April 29, 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 www.smartreit.com/Investor-Relations/Distributions.
SmartREIT is one of Canada's largest real estate investment trusts with total assets of approximately $8.5 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. The result is a fully integrated real estate provider with expertise in planning, development, leasing, operations, and construction - all under one roof. Our name is a reflection of our combined capabilities: SmartREIT. For more information on SmartREIT, visit www.smartreit.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Smart Real Estate Investment Trust
Chief Financial Officer
(905) 326-6400 ext. 7865