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OneREIT completes sale to SmartREIT, Strathallen

OneREIT closed its C$1.1 billion buyout by Smart Real Estate Investment Trust and Strathallen Acquisitions Inc.

OneREIT expects its units to be delisted from the Toronto Stock Exchange at the close of trading Oct. 5. Unit holders will be entitled to receive either C$4.275 per unit in cash or a noncash consideration equating to about 0.13766 of a SmartREIT unit per OneREIT unit.