H&R Announces Closing of Sale of Office Property, Date of Second Quarter 2024 Earnings Release, Conference Call and Webcast and Declares July 2024 Distribution

TORONTO, July 17, 2024 /CNW/ - H&R Real Estate Investment Trust ("H&R REIT" or "H&R") (TSX: HR.UN) today announced that on June 28, 2024, it closed the previously announced sale of its 50% ownership interest in 3777/3791 Kingsway, Burnaby, BC for $82.5 million.

Earnings Release

H&R also announced that it will release its financial results for the three and six months ended June 30, 2024 on Wednesday, August 14, 2024.  Management will host a conference call to discuss the financial results for H&R REIT on Thursday, August 15, 2024 at 9.30 a.m. Eastern Time.

Conference Call

Participants can join the call by dialing 1‐800‐717‐1738 or 1‐289‐514‐5100. For those unable to participate in the conference call at the scheduled time, a replay will be available approximately one hour following completion of the call. To access the archived conference call by telephone, dial 1‐289‐819‐1325 or 1‐888‐660‐6264 and enter the passcode 22332 followed by the "#" key. The telephone replay will be available until Thursday, August 22, 2024 at midnight.

Webcast                                                                                                       

A live audio webcast will be available through https://www.hr-reit.com/investor-relations/#investor-events.  Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived on H&R's website following the call date.

Monthly Distribution Declared

H&R today declared a distribution for the month of July scheduled as follows:

	Distribution per Unit	Annualized	Record date	Distribution date
July 2024	$0.05	$0.60	July 31, 2024	August 15, 2024

About H&R REIT           

H&R REIT is one of Canada's largest real estate investment trusts with total assets of approximately $10.9 billion as at March 31, 2024. H&R REIT has ownership interests in a North American portfolio comprised of high-quality residential, industrial, office and retail properties comprising over 26.8 million square feet. H&R's strategy is to create a simplified, growth-oriented business focused on residential and industrial properties in order to create sustainable long-term value for unitholders. H&R plans to sell its office and retail properties as market conditions permit. H&R's target is to be a leading owner, operator and developer of residential and industrial properties, creating value through redevelopment and greenfield development in prime locations within Toronto, Montreal, Vancouver, and high growth U.S. sunbelt and gateway cities.

Forward-looking Statements

Certain statements in this news release contain forward-looking information within the meaning of applicable securities laws (also known as forward-looking statements). These forward-looking statements include, but are not limited to, H&R's plans, objectives, expectations and intentions, including with respect to the timing of release of financial results and the payment of distributions.  Such forward-looking statements reflect H&R's current beliefs and are based on information currently available to management. These statements are not guarantees of future performance and are based on H&R's estimates and assumptions that are subject to risks and uncertainties, including those discussed in H&R's materials filed with the Canadian securities regulatory authorities from time to time, which could cause the actual results and performance of H&R to differ materially from the forward-looking statements contained in this news release. Although the forward-looking statements contained in this news release are based upon what H&R believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. All forward-looking statements in this news release are qualified by these cautionary statements. These forward-looking statements are made as of today and H&R, except as required by applicable law, assumes no obligation to update or revise them to reflect new information or the occurrence of future events or circumstances.

Additional information regarding H&R REIT is available at www.hr-reit.com and on www.sedarplus.com.  

SOURCE H&R Real Estate Investment Trust

For further information: Larry Froom, Chief Financial Officer, 416-635-7520, Email [email protected]