MONTREAL, QUEBEC -- (Marketwired) -- 09/15/17 -- Fronsac Real Estate Investment Trust ("Fronsac REIT" or "Fronsac") (TSX VENTURE: GAZ.UN) today announces an increase to its annual distribution from 1.80 cents per unit to 2.016 cents per unit, an increase of 12%. This marks the sixth consecutive annual distribution increase since the REIT's inception in July of 2011. This increase also represents a 61% growth in the distribution per unit from the 2012 distribution of 1.25 cents. Furthermore, as of January 2018, Fronsac's distributions will be made on a monthly basis rather than quarterly.
Jason Parravano, President and CEO, said: "We are pleased to announce another increase to our annual distribution rate. This increase proves true to the business model that Fronsac is trying to achieve. We have had another year of strong growth, which we have been able to translate into additional cash flow per unit. This additional cash flow and growth will once again be passed along to our unitholders, even quicker now with the change to monthly distributions in 2018."
About Fronsac - Fronsac Real Estate Investment Trust is an open-ended trust that acquires and owns high quality triple net and management-free commercial real estate properties.
Forward-Looking Statements - This press release contains forward-looking statements and information as defined by applicable securities laws. Fronsac warns the reader that actual events may differ materially from current expectations due to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such statements. Among these include the risks related to economic conditions, the risks associated with the local real estate market, the dependence to the financial condition of tenants, the uncertainties related to real estate activities, the changes in interest rates, the availability of financing in the form of debt or equity, the effects related to the adoption of new standards, as well as other risks and factors described from time to time in the documents filed by Fronsac with securities regulators, including the management report. Fronsac does not intend or undertake to update or modify its forward-looking statements even if future events occur or for any other reason, unless required by law or any regulatory authority.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the Policy of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.