Scott's REIT Acquires Retail Centre In Quebec

Under its small-box retail acquisition program, Scott's REIT acquired the 47,400 sq. ft. retail centre located at a high-traffic intersection. The retail centre is anchored by a Home Outfitters and tenanted by an A&W and Shell service station. The leases are long-term with an average length of 8.7 years.

"This attractive property is tenanted by well-known brands in Quebec and located in a thriving borough of Montreal," said Evelyn Sutherland, Chief Financial Officer of Scott's REIT. "This is our second acquisition this quarter, demonstrating our ongoing commitment to strategically increase our asset base and provide added value for our unitholders."

The property was purchased for $11,850 and financed through an assumption of a first mortgage, a vendor take back note and cash on hand. -- www.cnxmarketlink.com