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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks
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To: Cogito Ergo Sum who wrote (6005)6/13/2003 8:29:53 AM
From: David Alon  Read Replies (2) of 11633
 
What are you moving your money into?
I tried buying enbridge,but received only 100 shares. I hope to take a nice position in this new reit coming up,
Business Description :
Borealis Retail Real Estate Investment Trust has been formed to invest in income-producing retail properties, primarily in Canada, and will focus on owning and acquiring mid-market retail centres in major cities and major retail centres in secondary cities. The Initial Properties comprise approximately 2.8 million square feet of gross leasable area located in Kelowna, British Columbia, Calgary and Lethbridge, Alberta, and Guelph and Toronto, Ontario.
The specific objectives of the REIT are: (i) to generate stable and growing cash distributions on a tax efficient basis; (ii) to enhance the value of the REIT's assets and maximize long-term Unit value through the active management of its assets; and (iii) to expand the asset base of the REIT and increase its Distributable Income through an accretive acquisition program. The REIT currently intends to make cash distributions to Unitholders on each monthly Distribution Date equal to, on an annual basis, approximately 85% of the REIT's Distributable Income.

Borealis Real Estate Management Inc., a subsidiary of Borealis Capital Corporation, will be the asset manager of the REIT. Borealis is one of Canada's largest private investment managers with over $9 billion of assets under management.
Also am thinking of buying innergex as I didn't get any units before it was sold out.
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