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Topic: How To Invest

H&R REAL ESTATE INVESTMENT TRUST $24.16 – Toronto symbol HR.UN

H&R REAL ESTATE INVESTMENT TRUST $24.16 (Toronto symbol HR.UN; Units outstanding: 181.0 million; Market cap: $4.4 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.8%; www.hr-reit.com) and Dundee REIT (Toronto symbol D.UN) have agreed to buy Scotia Plaza, a 68-storey office building in downtown Toronto, from Bank of Nova Scotia (see page 41) for $1.3 billion.

Dundee REIT will own two-thirds of the property, and H&R will own the remaining third.

Scotia Plaza contains about 2 million square feet of office and retail space across four connected buildings. Scotiabank will remain as the anchor tenant.

H&R REIT is a buy.

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