TORONTO--(BUSINESS WIRE)--Agellan Commercial Real Estate Investment Trust (the “REIT”) (TSX: ACR.UN) has been made aware of market speculation that it is currently engaged in a formal review process to explore strategic alternatives, which may include a sale of all or substantially all of the assets or units of the REIT. The REIT confirms that a review process is ongoing and that its Board of Trustees has engaged RBC Capital Markets and Wells Fargo Securities, LLC as financial advisors.
The REIT does not intend to disclose developments with respect to the review process unless and until the Board of Trustees has approved a specific transaction or otherwise determines that disclosure is necessary or appropriate. There can be no assurance that this review process will result in any specific action or transaction or agreement or, if a transaction is undertaken, as to the nature, terms or timing of such transaction.
About Agellan Commercial Real Estate Investment Trust
The REIT is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been created for the purpose of acquiring and owning industrial, office and retail properties in select target markets in the United States and Canada.
The REIT’s 44 properties contain 6.3 million square feet of gross leasable area, with the REIT’s ownership interest at 6.0 million square feet. The properties are primarily located in major urban markets in the United States and Canada.
Additional information about the REIT is available at www.agellancommercialreit.com
or www.sedar.com.
Forward-Looking Statements:
This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the REIT’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the REIT’s control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. These forward-looking statements are made as of the date of this press release and, except as expressly required by applicable law, the REIT assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.