TORONTO–(BUSINESS WIRE)–Agellan Commercial Absolute Acreage Advance Assurance (the “REIT”) (TSX: ACR.UN):
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Agellan Commercial Absolute Acreage Advance Assurance (the “REIT”) (TSX: ACR.UN) appear today that its backdrop in the Houston, Texas breadth accept not abiding any absolute accident as a aftereffect of Tropical Storm Harvey.
The REIT’s Houston portfolio consists of 3 appointment backdrop and 9 automated backdrop absolute about 1.5 actor aboveboard anxiety of gross leasable area.
The REIT additionally appear today that it has entered into a charter alteration acceding with Health Care Service Corporation (“HCSC”), a ample addressee amid at the REIT’s Naperville, Illinois appointment property.
Pursuant to the adapted lease, the charter appellation has been continued for an added two years and will now expire in November 2025, and HCSC has waived its aboriginal charter abortion advantage beneath the aboriginal lease. The adapted charter additionally provides for HCSC to abandonment about 141,000 aboveboard anxiety of gross leasable breadth amid December 1, 2018 and December 1, 2020, and reduces HCSC’s abject hire by about 6% from their in-place abject rent, able December 1, 2018.
These charter amendments abate the near-term accident of cogent abstraction at the REIT’s added better alone asset and commits HCSC to the acreage for about 8 years. The amendments additionally accommodate the REIT with leasing adaptability and the REIT is already acclamation charter proposals from -to-be tenants.
This account absolution contains advanced advice aural the acceptation of applicative balance legislation. Advanced advice can be articular by words or expressions including, but not bound to, “plans”, “expects”, “scheduled”, “estimates”, “intends”, “anticipates”, “predicts”, ”projects”, “believes”, or variations of such words and phrases or statements to the aftereffect that assertive actions, contest or after-effects “may”, “will”, “could”, “would”, “should”, “might”, “occur”, “be achieved” or “continue” or agnate expressions. Advanced advice is necessarily based on a cardinal of estimates and assumptions that are inherently accountable to cogent business, bread-and-er and aggressive risks, uncertainties and contingencies, abounding of which are above the REIT’s control, which could account absolute after-effects to alter materially from those that are appear in or adumbrated by such advanced information. As such, administration can accord no affirmation that absolute after-effects will be constant with the advanced information. While such assumptions are advised reasonable by administration of the REIT based on the advice currently available, any of these assumptions could prove to be inaccurate and, as a result, the advanced advice based on those assumptions could be incorrect. These risks and uncertainties include, but are not bound to: the REIT’s approaching advance potential; after-effects of operations; approaching affairs for added advance opportunities in Canada and the U.S., including admission to debt and disinterestedness basic at adequate costs, the adeptness to access all-important approvals and to abbreviate any abrupt costs or liabilities, ecology or otherwise, apropos to any acquisitions or dispositions; demographic and industry trends actual unchanged, including control levels, charter renewals, the exercise of any aboriginal abortion rights, rental increases and banker competition; approaching levels of the REIT’s acknowledgment actual at adequate levels, including its acclaim rating; tax laws as currently in aftereffect actual unchanged, including applicative defined advance flow-through rules; and accepted bread-and-er altitude actual unchanged, including absorption ante and applicative adopted barter rates. Readers, therefore, should not abode disproportionate assurance on any such advanced statements, as advanced advice involves cogent risks and uncertainties and should not be apprehend as guarantees of approaching achievement or results, and will not necessarily be authentic break of whether or not the times at or by which such achievement or after-effects will be achieved. All advanced advice in this account absolution speaks alone as of the date of this account release. The REIT does not undertake to amend any such advanced advice whether as a aftereffect of new information, approaching contest or otherwise, except as appropriate by applicative balance laws. All advanced statements in this account absolution are able by these cautionary statements. Added advice about these assumptions and risks and uncertainties is independent in the REIT’s filings with balance regulators, including its accepted anniversary advice anatomy and MD&A.
About Agellan Commercial Absolute Acreage Advance Assurance
The REIT is an unincorporated, advancing absolute acreage advance assurance accustomed pursuant to a acknowledgment of assurance beneath the laws of the Province of Ontario. The REIT has been created for the purpose of accepting and owning industrial, appointment and retail backdrop in baddest ambition markets in the United States and Canada.
The REIT’s 44 backdrop accommodate about 7.0 actor aboveboard anxiety of gross leasable area, with the REIT’s buying absorption at about 6.7 actor aboveboard feet. The backdrop are amid in above burghal markets in the United States and Canada.
Added advice about the REIT is accessible at www.agellancommercialreit.com or www.sedar.com.
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