REIT News for Week Ending January 5, 2018

A summary of events in the world of Canadian REITS for the week ending January 5

General News

• Killam Apartment REIT hits milestone, looks ahead
• Mainstreet Health Investments Inc. changes name

Scheduling Q4 and 2017 Results

• Boardwalk
• Chartwell
• Choice Properties
• Cominar

Acquisitions

• Automotive Properties REIT

= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = 

Killam Apartment REIT hits milestone, looks ahead

Halifax-based Killam Apartment REIT  (KMP.UN) has reached a major milestone in its history and is now poised to expand its portfolio in the Ontario and Alberta markets.


The REIT was recently added to the S&P/TSX Composite Index, S&P/TSX Capped REIT Index, S&P/TSX Composite Dividend Index, S&P/TSX Composite High Dividend Index and the S&P/TSX Composite Low Volatility Index.

“Inclusion in the S&P/TSX Composite Index is a significant milestone for Killam and a positive conclusion to a successful 2017,” says Philip Fraser, Killam’s president and CEO. “The inclusion in the index reflects the successful execution of Killam’s growth strategy and will expand Killam’s investor base and increase liquidity for unitholders.

“It shows that we’re one of the larger companies on the TSX today. . . . A lot of funds that track that index need to buy us.”

Fraser says the REIT is looking to expand in Ontario and Alberta.

Source: https://renx.ca/killam-apartment-reit-seeks-major-markets-portfolio-growth/

= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = 

Name Change

Jan. 3, 2018: 

Mainstreet Health Investments Inc. (HLP.U) changes name to Invesque Inc.  They are not a REIT but maintain a portfolio of senior living properties in the US and Canada.  

Their monthly dividend is designated an eligible dividend for tax purposes and is paid in US$. 

At time of writing their shares are trading at $9.29 and the dividend yield is 7.9%.  The new website is https://www.invesque.com

= = = = = = = = = = = = = = = = = = = = = = = = == = = = = = = = = = = = = = = = = = = = = 

Year End Results

The following REITs have scheduled the release of their Q4 and 2017 results:

• Boardwalk (BEI.UN) before market open on Monday, Feburary 26, 2018.  A teleconference will be held later that morning.  See website for details: http://www.boardwalkreit.com/
• Chartwell Retirement Residences (CSH.UN) on the afternoon of Thursday, Feburary 22, 2018.  A conference call will be held Friday, February 23, 2018 at 10:00 AM ET.
  Website: http://www.chartwell.com/
• Choice Properties (CHP.UN) on Tuesday February 13, 2018 after market hours.  A conference call will be held the following day.  Website: http://www.choicereit.ca/
• Cominar (CUF.UN) on Thursday, March 8, 2018.  A conference call will be held on the same day at 11:00 AM EST.  Website: http://www.cominar.com/

= = = = = = = = = = = = = = = = = = = = = =  = = = = = = = = = = = = = = = = = = = = = = = =

Acquisition

January 4, 2018

Automotive Properties REIT (APR.UN) Agrees to Acquire Dealership Property in Kitchener-Waterloo, ON for $7.5 million.  

The REIT intends to satisfy the purchase price through draws on its existing credit facilities. The REIT has completed its diligence in connection with this acquisition and closing is expected to occur in late February 2018, subject to customary closing conditions.