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HUNTINGDON REIT ANNOUNCES COMPLETION OF NORMAL COURSE ISSUER BID FOR UNITS

^{Published on 2011-02-01 05:55:37 - Market Wire}
 

RICHMOND, BC, Feb. 1 /CNW/ - Huntingdon Real Estate Investment Trust (the "Trust" or "HREIT") (TSX: HNT.UN) today announced that they have acquired the maximum number of units per their normal course issuer bid for the period April 12, 2010 through April 11, 2011. In aggregate HREIT acquired 1,431,387 Trust units at an average per unit price of $6.3298. The units purchased represent 10% of the public float of units as at April 7, 2010, and as at January 28, 2011 the Trust has 14,270,103 units outstanding.

Based on annualized 2010 third quarter results, these purchases imply a capitalization rate of approximately 10%. 

HREIT is a real estate investment trust which is listed on the Toronto Stock Exchange under the symbols HNT.UN (Trust Units) and HNT.DB.C (Series C Convertible Debentures).  HREIT owns, directly or indirectly, 77 income producing office, industrial, retail and standalone parking lot properties, including the aviation-related facilities at five of Canada's leading international airports that have a total gross leasable area of 5.5 million square feet; and two land parcels held for development, with other development and expansion opportunities within the portfolio.

The Toronto Stock Exchange has not reviewed nor approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.