H&R Declares December 2024 Distribution, 2024 Special Distribution and Announces Date of Fourth Quarter 2024 Earnings Release, Conference Call & Webcast

TORONTO, Dec. 19, 2024 /CNW/ - H&R Real Estate Investment Trust ("H&R REIT" or the "REIT") (TSX: HR.UN) today declared the following distributions.

Monthly Distribution Declared

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

	Distribution per Unit	Annualized	Record date	Distribution date
December 2024	$0.05	$0.60	December 31, 2024	January 15, 2025

2024 Special Distribution

The REIT also announced today that it has declared a special distribution of $0.72 per Unit. The distribution will be payable in Units ($0.60 per Unit) and cash ($0.12 per Unit) to Unitholders of record as at December 31, 2024.

The special distribution is principally being made to distribute to Unitholders the taxable income realized by the REIT from transactions completed during the year ended December 31, 2024. The REIT is making the special distribution payable partially in cash and partially in Units, in order to provide Unitholders with cash to help fund any additional tax that may arise associated with the special distribution.

Immediately following the special distribution, the outstanding Units of the REIT will be consolidated such that each Unitholder will hold, after the consolidation, the same number of Units as such Unitholder held before the special distribution. The amount of the special distribution payable in Units will increase the tax cost basis of Unitholders' consolidated Units. The remaining portion of the special distribution will be paid in cash on January 15, 2025.

The REIT cautions that the foregoing comments are not intended to be, and should not be construed as, legal or tax advice to any Unitholder. The REIT recommends that Unitholders consult their own tax advisors regarding the income tax consequences to them of this anticipated special distribution and related Unit consolidation.

Earnings Release

H&R also announced that it will release its financial results for the three months and year ended December 31, 2024 on Wednesday, February 12, 2025.  Management will host a conference call to discuss the financial results for H&R REIT on Thursday, February 13, 2025 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 21517 followed by the "#" key. The telephone replay will be available until Thursday, February 20, 2025 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.

About H&R REIT

H&R REIT is one of Canada's largest real estate investment trusts with total assets of approximately $10.2 billion as at September 30, 2024. H&R REIT has ownership interests in a North American portfolio comprised of high-quality residential, industrial, office and retail properties comprising over 26.1 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, and high growth U.S. sunbelt and gateway cities.

Forward-Looking Disclaimer

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 is available at www.hr‐reit.com and on www.sedarplus.ca

SOURCE H&R Real Estate Investment Trust

Larry Froom, Chief Financial Officer, 416‐635‐7520, or e‐mail info@hr‐reit.com