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CT REIT discloses Q2 property acquisitions

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CT REIT discloses Q2 property acquisitions

CT Real Estate Investment Trust, in reporting its second-quarter results, disclosed three new investments worth a total of C$29 million, which are expected to result in a weighted average cap rate of 6.5% upon completion.

The acquisition of the three properties, totaling approximately 163,000 square feet of incremental gross leasable area, will be funded through the issuance of class B limited partnership units and/or class C limited partnership units to Canadian Tire Corp. Ltd., cash and/or draws on the company's credit facility.

The REIT completed C$44 million worth of investments in the second quarter. These included the development of a new Canadian Tire store in Sherwood Park, Alberta, and other projects.