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SmartCentres REIT ups annual distributions 2.9%

Shopping center real estate investment trust SmartCentres REIT increased its annual distributions by 5 Canadian cents per unit to C$1.80 per unit, effective in October.

The REIT also paid C$15.7 million to purchase a 54,193-leasable-square-foot investment property in Valleyfield, Quebec, during the second quarter.