CT REIT Reports Strong First Quarter 2019 Results
Delivers 5.2% growth in AFFO per unit over the same period last year Announces new investments totalling $33 million TORONTO , May 7, 2019 |CNW| - CT Real Estate Investment Trust (CT REIT) (TSX: CRT ) today reported its consolidated financial results for the first quarter ended March 31, 2019 . "We are pleased to kick off 2019 with another quarter of strong results, delivering attractive growth built on a solid financial foundation," said Ken Silver , President and Chief Executive Officer, CT REIT. "The execution of our focused and disciplined strategy continues to deliver the benefits expected." New Investment Activity Today, CT REIT announced new investments which will require an estimated total investment of $33 million . The investments are, in the aggregate, expected to earn a weighted average cap rate of 7.1% when completed and represent approximately 118,000 square feet of incremental gross leasable area ("GLA"). CT REIT is funding these investments through the issuance of Class B LP Units and|or Class C LP Units to Canadian Tire Corporation, Limited ("CTC"), cash and|or draws on its credit facility or any combination thereof.
CT REIT Reports Strong First Quarter 2019 Results
Delivers 5.2% growth in AFFO per unit over the same period last year Announces new investments totalling $33 million TORONTO , May 7, 2019 |CNW| - CT Real Estate Investment Trust (CT REIT) (TSX: CRT ) today reported its consolidated financial results for the first quarter ended March 31, 2019 . "We are pleased to kick off 2019 with another quarter of strong results, delivering attractive growth built on a solid financial foundation," said Ken Silver , President and Chief Executive Officer, CT REIT. "The execution of our focused and disciplined strategy continues to deliver the benefits expected." New Investment Activity Today, CT REIT announced new investments which will require an estimated total investment of $33 million . The investments are, in the aggregate, expected to earn a weighted average cap rate of 7.1% when completed and represent approximately 118,000 square feet of incremental gross leasable area ("GLA"). CT REIT is funding these investments through the issuance of Class B LP Units and|or Class C LP Units to Canadian Tire Corporation, Limited ("CTC"), cash and|or draws on its credit facility or any combination thereof.