Scott’s Real Estate Investment Trust (“Scott’s REIT”), owners of small-box retail properties, has achieved a 25 per cent increase in its asset portfolio, growing from 190 quick-service restaurant properties at its initial public offering on October 6, 2005, to the REIT’s current portfolio of 201 properties.
Scott’s REIT punctuated this anniversary with a series of acquisitions in Quebec and Ontario. In Quebec, two single-tenant retail centres, a 6,478-sq.-ft. property in Longueuil, and a 2,989-sq.-ft. property in Lachine, were picked up for an aggregate purchase price of $2.15 million, while in Ontario a 14,000-sq.-ft. single-tenant unenclosed retail centre in Hanover, a town on the boundary of Bruce and Grey Counties, was acquired, as were three new single-tenant retail properties in Windsor and Renfrew, Ontario. These final three centres represent the REITs largest acquisition to date and comprise a total of 36,400-sq.-ft., for approximately $14 million.
For further information: Trish Moran, (416) 624-5133, email@example.com