August 20, 2021
Canadian Net Real Estate Investment Trust (“Canadian Net” or the “Trust”) announces its results for the quarter ended June 30th, 2021, and monthly distributions for the months of October, November and December 2021.
Canadian Net REIT Announces its Results for the Quarter Ended June 30, 2021 and Distributions for the Months of October, November and December 2021
August 3, 2021
Canadian Net Real Estate Investment Trust (“Canadian Net” or the “Trust”) is pleased to announce that it has closed today its previously announced public offering (the “Offering”) of an aggregate of 2,702,500 trust units (“Units”) at a price of $7.45 per Unit for gross proceeds of approximately $20.1 million with a syndicate of underwriters led by Canaccord Genuity Corp. and Paradigm Capital Inc., and including CIBC Capital Markets, iA Private Wealth, Laurentian Bank Securities Inc., Desjardins Securities Inc., and Echelon Wealth Partners Inc. (collectively, the “Underwriters”).
Canadian Net REIT Completes $20.1 Million Bought Deal Public Offering of Trust Units, Including Exercise in Full of the Underwiters' Over-Allotment Option, and Provides Update on Acquisitions
July 15, 2021
Canadian Net Real Estate Investment Trust (“Canadian Net” or the “Trust”) is pleased to announce today that (i) it has waived conditions on the acquisition of a single tenant grocery store property in Quebec City, Québec, for a purchase price of approximately $6.2 million, and (ii) a bought deal public offering of trust units (the “Units”) for gross proceeds to the Trust of approximately $17.5 million.
Canadian Net REIT Announces an Acquisition and $17.5 Million Bought Deal Public Offering of Trust Units
July 2, 2021
Canadian Net Real Estate Investment Trust (“Canadian Net” or “the Trust”) is pleased to announce that it has received approval from the TSX Venture Exchange (“TSX”) for the annual renewal of its normal course issuer bid (“NCIB”).
Under the renewed NCIB, Canadian Net may purchase for cancellation, through the facilities of the TSX Venture Exchange, if in the best interest of the Trust, a maximum of 874,140 Units, which represents approximately 5% of the units in circulation. As of today, the Trust has 17 482 814 Units issued and outstanding. Over the course of any 30-day period the Trust will not purchase more than 349 656 Units in total, which represents 2% of the Units issued and outstanding at this present date.
Canadian Net REIT Announces Renewal of Normal Course Issuer Bid
June 17, 2021
Fronsac Real Estate Investment Trust (“Fronsac” or the “Trust”) announces that effective today, the Trust will be operating under the name of Canadian Net Real Estate Investment Trust. The Trust also announces that it will change its trading symbol from FRO.UN to NET.UN. This rebranding of the Trust better reflects Fronsac’s activities as a leading investor in Canadian commercial real estate leased on a triple net basis.
The change in name and ticker should become effective on or about June 22, 2021, on the TSX Venture Exchange.
Fronsac REIT Announces Company Name Change to Canadian Net REIT and Ticker Change to NET.UN
May 20, 2021
Fronsac Real Estate Investment Trust (“Fronsac” or the “Trust”) announces its results for the quarter ended March 31st, 2021, monthly distributions for the months of July, August and September 2021 and management appointments.
Fronsac Announces its Results for the Quarter Ended March 31, 2021, Monthly Distributions for Q3 2021 and Management Appointments
May 19, 2021
Fronsac Real Estate Investment Trust (“Fronsac”) is pleased to announce three acquisitions.
The first property was acquired on April 20th, 2021 through a joint venture in which Fronsac holds a 40% interest. The property is a retail strip located on Roi-René Boulevard in Anjou, Qc. A portion of the property will be demolished, and a Benny&Co. restaurant will be added to the strip. Total costs are expected to be $3,500,000 and construction is set to begin in 2022.
The second property is a grocery store operated under the Food Basics banner located in Cambridge, On. Total consideration to be paid will be $7,050,000 (excluding transaction costs) and will be settled in cash. The property will be purchased alongside the three previously announced Food Basics properties in Keswick, Hamilton and Dunnville, On, for $8,090,663 (excluding transaction costs). The transaction is set to close during Q2 2021.
The third property is a land leased to a Pétro-Pass cardlock located in the Greater Montreal Area. Total consideration to be paid will be $1,550,000 (excluding transaction costs) and will be settled in cash. The transaction is set to close in Q2 2021.
Fronsac Announces Three Acquisitions
May 7, 2021
Fronsac Real Estate Investment Trust (“Fronsac” or the “Trust”)
announces amendments to its unit compensation plan (the “Unit Compensation Plan”) and a new deferred
trust unit plan (the “DTU Plan”) that further aligns executive management and unitholder interests.
At the annual and special meeting of unitholders to be held on May 21st, 2021, unitholders will be asked,
among other matters, to consider, and if deemed appropriate, to pass resolutions approving amendments
to the Unit Compensation Plan as outlined below (the “Amendments to the Compensation Plan”) and to
pass a resolution approving the DTU Plan of the Trust (the “DTU Plan”). The Amendments to the
Compensation Plan and DTU Plan remain subject to the approval of the TSX Venture Exchange and
disinterested unitholder approval.
Fronsac Announces Changes to its Unit Compensation Plan and Deferred Unit Plan
March 26, 2021
Fronsac Real Estate Investment Trust (“Fronsac”) announces a business update, monthly distributions for the months of April, May and June 2021 and its results for the year ended December 31st, 2020.
Fronsac Announces Acquisitions, A Business Update, Distributions for Q2 2021 and its Results for the Year Ended December 31, 2020
February 1, 2021
On January 29th, 2021 Fronsac completed the acquisition of a property in Lac Brome, QC which is operated by a service-station under the Esso banner and a fast-food restaurant operated under the Tim Hortons banner. Total consideration paid for the property was $2,840,000 (excluding transaction costs) and was settled in cash.
NEW DEVELOPMENT IN CHICOUTIMI, QC
In partnership with Odacité Immobilier and Benny & Co., Fronsac also is pleased to announce the development of a new standalone Benny&Co. restaurant in Chicoutimi, Qc. Fronsac will retain a 50% participation in the project. Total costs are expected to be $2.1M and construction is set to begin in 2021.
Fronsac Announces the Acquisition of a Property and a New Development
December 1, 2020
Fronsac Real Estate Investment Trust (the “REIT” or “Fronsac”) is pleased to announce that it has closed its previously announced acquisition of five grocery store properties leased to affiliated brands of Loblaws™ located in Beauport, QC, Roberval, QC, Sydney, NS, New Glasgow, NS, and Kirkland Lake, ON.
The properties are comprised of five grocery stores, aggregating approximately 246,000 square feet of gross leasable area. The properties are 100% occupied, with a weighted average remaining lease term of approximately 6.1 years, and are all single-tenant properties leased on a triple net basis.
The combined net operating income in respect of the Acquisition Properties is approximately $3.0 million, representing a 7.0% weighted average capitalization rate based on the aggregate purchase price of approximately $43.4 million (excluding transaction costs).