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Huntingdon REIT Announces the Sale of Ontario Retail Centre

^{Published on 2011-09-19 05:12:25 - Market Wire}
 

RICHMOND, BC, Sept. 19, 2011 /CNW/ - Huntingdon Real Estate Investment Trust (the "Trust" or "HREIT") (TSX: HNT.UN) announced today that it has closed the sale of a 12,464 square foot retail centre in Kenora, Ontario, known as Harbourview Village for $1.2 million. The sale proceeds include a vendor take-back mortgage of $850,000, bearing interest at prime rate plus 3%, due on March 14, 2013. The sale reflects a capitalization rate of 8.2%.

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, 76 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. HREIT has announced that it intends to convert to a corporation.

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.