/NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES/
TORONTO, Sept. 15, 2017 /CNW/ - True North Commercial Real Estate Investment Trust (TSX: TNT.UN) (the "REIT") today announced its trust units ("Units") will be added to the S&P/TSX SmallCap Index, effective prior to the open of trading on Monday, September 18, 2017.
"Being added to the S&P/TSX SmallCap Index reflects the success we've had in building a solid property portfolio that has generated reliable and growing returns to our unitholders," said Daniel Drimmer, the President and Chief Executive Officer of the REIT. "We are pleased to now be exposed to a broader range of investors as we continue to execute our strategy of adding quality properties with long-term leases in urban markets."
The REIT also announced its September 2017 monthly cash distribution in the amount of $0.0495 per Unit, payable on October 16, 2017 to holders of Units of record at September 29, 2017. Unitholders can participate in the REIT's unitholder Distribution Reinvestment Plan ("DRIP").
Eligible investors registered in the DRIP will have their monthly cash distributions used to purchase additional Units, at a 3% discount to the weighted average closing price of the Units, for the five trading days immediately preceding the date of distribution declared by the REIT. No assurances can be made that new Units will be made available under the DRIP on a regular basis, or at all. The DRIP provides an efficient and cost-effective way for the REIT to issue additional equity to existing unitholders.
About the REIT
The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 33 properties consisting of approximately 2.2 million square feet in urban cities and strategic secondary markets across Canada focusing on long term leases with government and credit-rated tenants.
The REIT is focused on growing its portfolio principally through acquisitions across Canada and such other jurisdictions where opportunities exist. Additional information concerning the REIT is available at www.sedar.com or the REIT's website at www.truenorthreit.com.
SOURCE True North Commercial Real Estate Investment Trust