Skip to main content

Canadian Net REIT Announces the Acquisition of Three Properties in Quebec

Written by Customer Service on . Posted in Mergers And Acquisitions.

MONTRÉAL, Jan. 21, 2025 (GLOBE NEWSWIRE) — Canadian Net Real Estate Investment Trust (“Canadian Net” or the “Trust”) (TSX-V: NET.UN) is pleased to announce the acquisition of three properties in Saguenay, Quebec. The acquired properties include a grocery store operating under the IGA banner, a pharmacy under the Jean-Coutu banner, and a bank under the National Bank of Canada banner. The total purchase price was $12,000,000 (excluding transaction costs), paid in cash.

“We are excited to announce the acquisition of three more single-tenant properties to our portfolio, which will be immediately accretive on an FFO per unit basis,” said Kevin Henley, President and CEO. “These acquisitions align perfectly with our strategy of acquiring nationally tenanted, triple-net properties in the necessity-based sector. Showcasing our ability to identify value-driven opportunities in a fragmented market, those properties were sourced through an off-market process. Last year’s strategic sales enabled us to drive organic growth, with the acquisition of one high-performing property in Q4 2024 and three additional properties today.”

DETAILS ABOUT THE PROPERTIES

The first property is located at 150 6e rue in La Baie, Quebec. It is leased to IGA (Sobeys) with a rental area of approximately 35,000 square feet.

The second property is located at 170 6e rue in La Baie, Quebec. It is leased to the National Bank of Canada with a rental area of approximately 4,500 square feet.

The third property is located at 180 6e rue in La Baie, Quebec. It is leased to Jean-Coutu (Metro) with a rental area of approximately 11,000 square feet.

As a result of these strategic and accretive acquisitions, the Trust now owns a total of 97 properties.

About Canadian Net – Canadian Net Real Estate Investment Trust is an open-ended trust that acquires and owns high-quality triple net and management-free commercial real estate properties.

Forward-Looking Statements – This press release contains forward-looking statements and information as defined by applicable securities laws. Canadian Net warns the reader that actual events may differ materially from current expectations due to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such statements. Among these include the risks related to economic conditions, the risks associated with the local real estate market, the dependence to the financial condition of tenants, the uncertainties related to real estate activities, the changes in interest rates, the availability of financing in the form of debt or equity, the effects related to the adoption of new standards, as well as other risks and factors described from time to time in the documents filed by Canadian Net with securities regulators, including the management report. Canadian Net does not intend or undertake to update or modify its forward-looking statements even if future events occur or for any other reason, unless required by law or any regulatory authority.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the Policy of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.

For further information please contact Kevin Henley at (450) 536-5328.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.