Press
CANADIAN NET REIT ANNOUNCES 2023 THIRD-QUARTER RESULTS AND Q1 2024 DISTRIBUTIONS
November 22, 2023
Canadian Net Real Estate Investment Trust (“Canadian Net” or the “REIT”) (TSX-V: NET.UN) today reported its results for the quarter ended September 30th, 2023 (“Q3 2023”). The REIT also announced distributions for the months of January, February and March 2024.
CANADIAN NET REIT ANNOUNCES THE SALE OF A PROPERTY IN TROIS-RIVIÈRES, QC
September 11, 2023
Canadian Net Real Estate Investment Trust (“Canadian Net” or the “Trust”) (TSX-V: NET.UN) is pleased to announce the successful sale of a single-tenant property housing a restaurant operating under the Mike’s banner in Trois-Rivières, Quebec ("the Property"). The total consideration received for the Property was $1.3M, translating into a capitalization rate of 5.6%. This is a notable 26% premium above the Property's IFRS value. The net proceeds from this transaction will be directed towards repaying a portion of the Trust’s credit facilities.
CANADIAN NET REIT ANNOUNCES 2023 SECOND-QUARTER RESULTS
August 16, 2023
Canadian Net Real Estate Investment Trust (“Canadian Net” or the “REIT”) (TSX-V: NET.UN) today reported its results for the quarter ended June 30th, 2023 (“Q2 2023”). The REIT also announced distributions for the months of October, November and December 2023.
CANADIAN NET REIT ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID
July 19, 2023
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”).
For its current NCIB that expires on July 31, 2023, the Trust previously sought and received approval from the TSX to repurchase up to 1,029,636 units of Canadian Net (the “Units”). The Trust purchased 99,400 Units over the course of this NCIB.
CANADIAN NET REIT ANNOUNCES SOLID 2023 FIRST QUARTER RESULTS
May 24, 2023
Canadian Net Real Estate Investment Trust (“Canadian Net” or the “REIT”) (TSX-V: NET.UN) today reported its results for the quarter ended March 31st, 2023 (“Q1 2023”). The REIT also announced distributions for the months of July, August and September 2023, and modifications to grants under its Equity Incentive Plan that reflect recent management changes.
CANADIAN NET REIT ANNOUNCES EXECUTIVE LEADERSHIP CHANGES
March 29, 2023
Canadian Net Real Estate Investment Trust (“Canadian Net” or the “Trust”) announced that they have accepted the resignation of its President, CEO and Trustee, Jason Parravano. After 8 successful years with the Trust, Mr. Parravano will be stepping down from his position on April 25th, 2023. At that time, Kevin Henley, Chief Investment Officer, will assume the role of President and CEO. Kevin Henley has been with the REIT for just over 6 years now and has worked alongside Mr. Parravano to grow the portfolio to what it is today. He has showcased his capabilities and dedication to the organization during that time.
CANADIAN NET REIT ANNOUNCES THE ISSUANCE OF UNITS FOR SERVICES RENDERED AND GRANT OF PERFORMANCE UNITS IN RELATION WITH ITS UNIT COMPENSATION PLAN
March 23, 2023
Canadian Net Real Estate Investment Trust (“Canadian Net” or the “Trust”) announces the issuance of 13,329 units of the Trust at a price of $5.88 per unit, which equates to $78,376, and 41,524 deferred trust units as partial compensation for the services rendered by certain members of management and the board of trustees during the fiscal year ended on December 31st, 2022.
The issuance of the units and deferred trust units of Canadian Net constitutes a portion of salaries as per the Equity Incentive Plan approved by unitholders on May 25, 2022 (the “Equity Incentive Plan”).
Canadian Net also announces the grant of 175,584 performance units (“Performance Units”) to certain members of management under the Equity Incentive Plan. These units will vest in accordance with the criteria set forth in the Equity Incentive Plan and the achievement of performance targets, set by the board of trustees.
CANADIAN NET REIT ANNOUNCES ITS RESULTS FOR THE YEAR ENDED DECEMBER 31, 2022, AND Q2 2023 MONTHLY DISTRIBUTIONS
March 22, 2023
Canadian Net Real Estate Investment Trust (“Canadian Net” or the “Trust”) announces its results for the year ended December 31st, 2022, and monthly distributions for the months of April, May and June 2023.
Jason Parravano, President and CEO says: “It is my pleasure to share with you our 2022 results, which demonstrate another great year of per unit FFO growth. Despite a turbulent year, we managed to complete 10 acquisitions to help propel our results. Going into 2023, we remain diligent as we navigate a more volatile interest rate environment, as well as other macroeconomic headwinds. Our focus is to optimize our existing properties in order to deliver consistent results for our unit holders.”
CANADIAN NET REIT ANNOUNCES ITS RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2022, AN INCREASE IN ITS PER UNIT DISTRIBUTIONS FOR 2023 AND Q1 2023 MONTHLY DISTRIBUTIONS
November 21, 2022
Canadian Net Real Estate Investment Trust (“Canadian Net” or the “Trust”) announces its results for the quarter ended September 30th, 2022, an increase in its per unit distributions for an 11th consecutive year, and monthly distributions for the months of January, February and March 2023.
Jason Parravano, President and CEO says: “I am pleased to share our results this quarter, which demonstrate the strength and resilience of our portfolio. Despite a challenging macro-environment, highlighted by higher interest rates and inflation, we continue to deliver per unit FFO accretion which has permitted us to once again, and for an 11th consecutive year, raise our distribution headed into 2023. This will mark a cumulative 176% increase in our per unit distribution rate since we began distributing in 2012.”
CANADIAN NET REIT ANNOUNCES ITS RESULTS FOR THE QUARTER ENDED JUNE 30, 2022, AND Q4 2022 MONTHLY DISTRIBUTIONS
August 24, 2022
Canadian Net Real Estate Investment Trust (“Canadian Net” or the “Trust”) announces its results for the quarter ended June 30th, 2022, and monthly distributions for the months of October, November and December 2022.
CANADIAN NET REIT ANNOUNCES THE ACQUISITION OF TWO PROPERTIES IN NEW BRUNSWICK AND QUEBEC
August 2, 2022
Canadian Net Real Estate Investment Trust (“Canadian Net” or the “Trust”) is pleased to announce the acquisition of two properties in New Brunswick and Quebec. They will be the 100th and 101st properties of the Trust, respectively.
The first acquisition is a 4,400 square-foot auto service center operated under the Midas banner in Fredericton, New Brunswick. Total consideration paid was $975,000 (excluding transaction costs) and was settled in cash. The transaction closed on July 15th, 2022.
The second acquisition is a 53,151 square-foot hardware store operated under the Rona banner in Chateauguay, Quebec. Total consideration to be paid is $8,300,000 (excluding transaction costs) and the transaction is set to close early in August.
CANADIAN NET REIT ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID
July 21, 2022
Canadian Net Real Estate Investment Trust (“Canadian Net” or the “Trust”) announces the voting results from its annual meeting of unitholders held yesterday in a virtual format and the grant of performance units to members of management as per the equity incentive plan of the Trust (the “Equity Incentive Plan”).