TORONTO, ONTARIO -- (Marketwired) -- 06/19/17 -- Smart Real Estate Investment Trust ("SmartREIT") (TSX: SRU.UN) announced today that the trustees of SmartREIT have declared a distribution for the month of June 2017 of CDN $0.14167 per trust unit, representing CDN $1.70 per unit on an annualized basis. Payment will be made on July 17, 2017 to unitholders of record on June 30, 2017.
SmartREIT offers Canadian unitholders the option to participate in a Distribution Reinvestment Plan ("DRIP"), a convenient and economical opportunity to automatically reinvest monthly distributions in additional units without the payment of any commissions, service charges or brokerage fees, at a price equal to 97% of the average TSX market price over the 10 business days preceding the monthly distribution date. Additional information regarding the DRIP is available at http://www.smartreit.com/investing/distributions/.
SmartREIT is one of Canada's largest real estate investment trusts with total assets of approximately $8.9 billion. It owns and manages 32 million square feet in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartREIT is a joint-venture partner in the Premium Outlets locations in Toronto and Montreal with Simon Property Group. SmartREIT is now expanding the breadth of its portfolio to include residential (condominium and rental), office, and self-storage, either on its large urban properties such as the Vaughan Metropolitan Centre or as an adjunct to its existing shopping centres. SmartREIT's core vision is to provide a value-oriented shopping experience in all forms to Canadian consumers and to create high quality mixed use developments in urban settings.
With SmartREIT's 2015 acquisition of SmartCentres, SmartREIT has transformed into a fully integrated real estate provider. SmartREIT and SmartCentres have had a long and successful alliance, helping to provide Canadians with value-focused retail shopping centres across the country. Now, the alliance has grown even stronger, the result is a fully integrated real estate provider with expertise in planning, development, leasing, operations and construction -- all under one roof. For more information on SmartREIT, visit www.smartreit.com.
Chief Financial Officer
Smart Real Estate Investment Trust
(905) 326-6400 ext. 7865