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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Agellan Commercial Real Estate Invtmt TR    ACR.UN   CA00844Y1051

AGELLAN COMMERCIAL REAL ESTATE INVTMT TR (ACR.UN)
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Agellan Commercial Real Estate Investment Trust : Receives Unitholder Meeting Requisition

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09/20/2017 | 01:31pm CEST

TORONTO, Sept. 20, 2017 /CNW/ - Agellan Commercial Real Estate Investment Trust (the "REIT" or "Agellan") (TSX: ACR.UN) announced today that its board of trustees (the "Board") received a unitholder requisition on September 19, 2017 requesting that the REIT call a special meeting of the REIT's unitholders for the purpose of reconstituting the Board with five new trustees and seeking an advisory vote of unitholders in respect of the REIT's previously announced agreement to internalize management.

The unitholder making the requisition, Sandpiper Real Estate Fund Limited Partnership, has advised the REIT that it owns, directly or indirectly, 10% of the outstanding units of the REIT.

A special committee of the Board comprised of independent trustees is reviewing and considering the requisition with its professional advisors. It will respond appropriately in due course. In the meantime, there is no need for unitholders of the REIT to take any action.

About Agellan Commercial Real Estate Investment Trust

The REIT is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been created for the purpose of acquiring and owning industrial, office and retail properties in select target markets in the United States and Canada.

The REIT's 44 properties contain 7.0 million square feet of gross leasable area, with the REIT's ownership interest at 6.7 million square feet. The properties are located in major urban markets in the United States and Canada.

Additional information about the REIT is available at www.agellancommercialreit.com or www.sedar.com.

For more information please contact:

Agellan Commercial Real Estate Investment Trust
156 Front St W, Suite 303
Toronto, ON M5J 2L6
Tel: (416) 593-6800
Fax: (416) 593-6700
Email: info@agellancapital.com

Laurel Hill Advisory Group

Toll free in North America: 1-877-452-7184
Collect Outside North America: 416-304-0211
Email: assistance@laurelhill.com

SOURCE Agellan Commercial Real Estate Investment Trust

© Canada Newswire, source Canada Newswire English

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Financials (CAD)
Sales 2018 99,2 M
EBIT 2018 -
Net income 2018 32,0 M
Debt 2018 279 M
Yield 2018 5,83%
P/E ratio 2018 14,62
P/E ratio 2019 12,63
EV / Sales 2018 7,40x
EV / Sales 2019 7,76x
Capitalization 455 M
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 13,8  CAD
Spread / Average Target -0,35%
Managers
NameTitle
Frank Camenzuli Chief Executive Officer & Non-Independent Trustee
Glen Ladouceur Chairman
Terra Attard Chief Operating Officer & Secretary
Daniel Millett Chief Financial Officer
Dayna Gibbs Independent Trustee
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