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H&r Reit To Sell The Atrium

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TORONTO, May 8, 2019 /CNW/ - H&R Real Estate Investment Trust ("H&R") (TSX:HR) is pleased to announce that it has entered into an agreement to sell The Atrium for $640 million, subject to customary closing conditions. The purchase price equates to a capitalization rate of 4.56%. Closing is expected to occur on or about June 6, 2019. The Atrium, comprising 595 Bay Street, 20 & 40 Dundas Street West, and 306 Yonge Street, is a 1.1 million square foot office and retail complex, effectively occupying a full city block in downtown Toronto at one of the busiest intersections in Canada.

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