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RRR.UN - R&R Real Estate Investment Trust News Story

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Last Trade - 20/07/20

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Market Cap £0.01
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Position in Universe th / 2676

BRIEF-R&R REIT Announces $31.5 Mln Portfolio Acquisition

Fri 18th May, 2018 1:27pm
May 18 (Reuters) - R&R Real Estate Investment Trust
 RRR_u.V :
    * R&R REIT ANNOUNCES US$31.5 MILLION PORTFOLIO ACQUISITION
    * R&R REAL ESTATE INVESTMENT TRUST - ACQUISITION EXPECTED TO
BE
IMMEDIATELY ACCRETIVE TO FFO AND AFFO PER UNIT OF REIT
    * R&R REAL ESTATE INVESTMENT TRUST - REIT AGREES TO ACQUIRE
PORTFOLIO OF FIVE ECONOMY EXTENDED-STAY HOTELS LOCATED IN U.S.,
COMPRISING 656 ROOMS
    * R&R REIT- AS PARTIAL CONSIDERATION, VENDORS WILL RECEIVE
ABOUT
US$11 MILLION OF CLASS B LIMITED PARTNERSHIP UNITS OF
NEWLY-FORMED LIMITED PARTNERSHIPS
    * R&R REAL ESTATE INVESTMENT TRUST - INDEPENDENT TRUSTEES OF
REIT
UNANIMOUSLY RECOMMEND THAT UNITHOLDERS VOTE IN FAVOUR OF
ACQUISITION
    * R&R REIT - DEAL TO BE FUNDED BY ASSUMPTION OF ABOUT
US$20.5
MILLION PRINCIPAL AMOUNT OF EXISTING MORTGAGE DEBT RELATED TO
ACQUISITION PROPERTIES
    * R&R REIT - DEAL ALSO TO BE FUNDED BY ISSUANCE TO VENDORS
OF
APPROXIMATELY US$11 MILLION OF CLASS B LP UNITS, AT A PRICE OF
C$0.20 PER CLASS B LP UNIT
    * R&R REIT - DEAL ALSO TO BE FUNDED BY ABOUT US$0.6 MILLION
IN
CASH

Source text for Eikon:  ID:nCNWy1MJma 
Further company coverage:  RRR_u.V 

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