Huntingdon Real Estate Investment Trust (the Trust or HREIT) (TSX: HNT.UN) announced today that it has sold a surface parking lot in Winnipeg, Manitoba known as 336 Young Street for $455,000.
The sale resulted in net cash to HREIT of approximately $200,000 after transaction costs and the repayment of approximately $235,000 of first mortgage debt. The sale price reflects a cap rate of approximately 8.0%.
About Huntingdon Real Estate Investment Trust
HREIT is a real estate investment trust which is listed on the Toronto Stock Exchange under the symbols HNT.UN (Trust Units) and HNT.DB.C (Series C Convertible Debentures). HREIT owns, directly or indirectly, 74 income producing office, industrial, retail and standalone parking lot properties, including the aviation-related facilities at five of Canadas leading international airports that have a total gross leasable area of 5.5 million square feet; and two land parcels held for development, with other development and expansion opportunities within the portfolio.