{"id":16952,"date":"2018-07-18T07:00:00","date_gmt":"2018-07-18T11:00:00","guid":{"rendered":"https:\/\/www.choicereit.ca\/news-release\/choice-properties-real-estate-investment-trust-publie-ses-resultats-pour-le-deuxieme-trimestre-2018\/"},"modified":"2018-07-18T07:00:00","modified_gmt":"2018-07-18T11:00:00","slug":"choice-properties-real-estate-investment-trust-publie-ses-resultats-pour-le-deuxieme-trimestre-2018","status":"publish","type":"news-release","link":"https:\/\/www.choicereit.ca\/fr\/news-release\/choice-properties-real-estate-investment-trust-publie-ses-resultats-pour-le-deuxieme-trimestre-2018\/","title":{"rendered":"Choice Properties Real Estate Investment Trust publie ses r\u00e9sultats pour le deuxi\u00e8me trimestre 2018"},"content":{"rendered":"<p id=\"temp_ReleaseStart\"><span class=\"xn-location\">TORONTO<\/span>, <span class=\"xn-chron\">July 18, 2018<\/span> \/CNW\/ \u2013 Choice Properties Real Estate Investment Trust (\u00ab\u00a0Choice Properties\u00a0\u00bb or the \u00ab\u00a0Trust\u00a0\u00bb) (TSX: CHP.UN) announced today its consolidated financial results for the second quarter ended <span class=\"xn-chron\">June 30, 2018<\/span>. The Trust\u2019s Quarterly Report will be available in the Investor Relations section of the Trust\u2019s website at <a target=\"_blank\" href=\"http:\/\/www.choicereit.ca\/\" rel=\"nofollow noopener noreferrer\">www.choicereit.ca<\/a>, filed with SEDAR and available at <a target=\"_blank\" href=\"http:\/\/www.sedar.com\/\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/p>\n<p class=\"prntal\">\u00ab\u00a0The highlight of the quarter was the completion of the transaction on <span class=\"xn-chron\">May 4<\/span>, which combined the businesses of Choice and CREIT,\u00a0\u00bb said <span class=\"xn-person\">Stephen Johnson<\/span>, President and Chief Executive Officer. \u00ab\u00a0Choice is now <span class=\"xn-location\">Canada\u2019s<\/span> preeminent diversified REIT, with a portfolio of high-quality real estate assets and an extensive property development pipeline.\u00a0\u00bb<\/p>\n<p><b>FINANCIAL PERFORMANCE:<\/b><\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td colspan=\"2\" nowrap class=\"prngen2\"><\/td>\n<td colspan=\"2\" nowrap class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Three months ended<\/span><\/p>\n<\/td>\n<td colspan=\"2\" nowrap class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Six months ended<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><i>($000s except per-unit amounts and other data)<\/i><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>June 30, 2018<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">June 30, 2017<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>June 30, 2018<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">June 30, 2017<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net income (loss)<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(321,133)<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">41,467<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>305,858<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">65,717<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net income (loss) per unit diluted<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(0.557)<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.100<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>0.617<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.159<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>GAAP basis<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Rental revenue<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>294,648<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">208,814<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>509,896<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">412,421<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net operating income (cash basis)<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>205,790<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">144,200<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>355,794<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">286,798<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Adjustment to fair value of investment properties<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(69,068)<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(7,877)<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(36,029)<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">84,792<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Proportionate share basis <\/b><sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Rental revenue<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>304,313<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">208,814<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>519,561<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">412,421<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net operating income (cash basis)<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>211,902<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">144,200<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>361,906<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">286,798<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Adjustment to fair value of investment properties<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(69,493)<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(7,877)<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(36,454)<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">83,542<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Funds from operations (FFO)<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>156,600<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">108,360<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>262,285<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">217,196<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">FFO per unit diluted<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>0.272<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.262<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>0.529<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.526<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Adjusted funds from operations (AFFO)<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>140,333<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">95,897<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>235,693<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">193,126<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">AFFO per unit diluted<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>0.243<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.232<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>0.475<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.468<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<td nowrap class=\"prngen5\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Adjusted cash flow from operations (ACFO)<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>152,754<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">97,467<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>247,652<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">199,133<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">ACFO payout ratio<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>70.6%<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">77.0%<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>74.4%<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">74.3%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Cash retained after distributions <\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>44,964<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">22,412<\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>63,376<\/b><\/span><\/p>\n<\/td>\n<td nowrap class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">51,156<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<div>\n<table id=\"convertedTablee57d\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><sup>(1)<\/sup> A non-GAAP measure, includes amounts from directly held properties and equity accounted investments.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><b>Quarterly results<\/b><\/p>\n<ul type=\"disc\">\n<li><b>Net Loss <\/b>for the second quarter of 2018 was <span class=\"xn-money\">$321.1 million<\/span> compared to net income of <span class=\"xn-money\">$41.5 million<\/span> in the second quarter of 2017. Adjustments to the fair value of exchangeable units and investment properties were the primary cause of the variance between these comparative periods. The remaining change resulted from an increase of net property income associated with the Acquisition of Canadian Real Estate Investment Trust (\u00ab\u00a0CREIT\u00a0\u00bb), partially offset by transaction costs which included the accelerated amortization of debt premium and an increase to net interest expense and other financing charges (including distributions on Exchangeable Units).\n<\/li>\n<li><b>FFO<\/b> for the second quarter of 2018 was <span class=\"xn-money\">$156.6 million<\/span> or <span class=\"xn-money\">$0.272<\/span> per unit diluted, compared with <span class=\"xn-money\">$108.4 million<\/span> or <span class=\"xn-money\">$0.262<\/span> per unit diluted in the second quarter of 2017. The 2018 results are inclusive of non-recurring lease surrender income of <span class=\"xn-money\">$10.2 million<\/span> earned in the current quarter and <span class=\"xn-money\">$4.2 million<\/span> of incremental interest expense from debt financing, offset by <span class=\"xn-money\">$1.1 million<\/span> of interest earned on amounts placed in security deposits in advance of closing the CREIT acquisition. Excluding these items, FFO for the quarter would have been <span class=\"xn-money\">$149.5 million<\/span> or <span class=\"xn-money\">$0.260<\/span> per unit diluted.<\/li>\n<\/ul>\n<p><\/p>\n<p><b>Year-To-Date Results<\/b><\/p>\n<ul type=\"disc\">\n<li><b>Net Income <\/b>for the six months ended <span class=\"xn-chron\">June 30, 2018<\/span> was <span class=\"xn-money\">$305.9 million<\/span>, an increase of <span class=\"xn-money\">$240.2 million<\/span> when compared to net income for the same period last year. The increase was primarily due to favourable adjustments to the fair value of exchangeable units and investment properties, partially offset by transaction costs associated with the acquisition of CREIT, which included the accelerated amortization of debt premium and an increase to net interest expense and other financing charges (including distributions on Exchangeable Units).\n<\/li>\n<li><b>FFO <\/b>for the six months ended <span class=\"xn-chron\">June 30, 2018<\/span> was <span class=\"xn-money\">$262.3 million<\/span> or <span class=\"xn-money\">$0.529<\/span> per unit diluted, compared with <span class=\"xn-money\">$217.2 million<\/span> or <span class=\"xn-money\">$0.526<\/span> per unit diluted in the prior year. The 2018 results are inclusive of non-recurring lease surrender income of <span class=\"xn-money\">$10.2 million<\/span> earned in the current period and <span class=\"xn-money\">$5.6 million<\/span> of incremental interest expense from debt financing, and the call premium of <span class=\"xn-money\">$2.9 million<\/span> for the early repayment of Series A senior unsecured debentures. Excluding these items, FFO for the year-to-date period would have been <span class=\"xn-money\">$260.6 million<\/span> or <span class=\"xn-money\">$0.526<\/span> per unit diluted.<\/li>\n<\/ul>\n<p><\/p>\n<p><b>Management Discussion and Analysis and Condensed Consolidated Financial Statements and Notes<\/b><\/p>\n<p class=\"prntal\">Information appearing in this news release is a select summary of the consolidated results of the Trust. This news release should be read in conjunction with Choice Properties\u2019 Second Quarter 2018 Report to Unitholders, which includes the unaudited interim period condensed consolidated financial statements and MD&amp;A for the Trust and is available at <a target=\"_blank\" href=\"http:\/\/www.choicereit.ca\/\" rel=\"nofollow noopener noreferrer\">www.choicereit.ca<\/a> and on SEDAR at <u><a target=\"_blank\" href=\"http:\/\/www.sedar.com\/\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a><\/u>.<\/p>\n<p><b>Conference Call and Webcast<\/b><\/p>\n<p class=\"prntal\">Senior management will host a conference call to discuss the results on <span class=\"xn-chron\">July 19, 2018<\/span> at <span class=\"xn-chron\">11:00AM (ET)<\/span>. To access via teleconference, please dial (647) 427-7450. A playback will be made available two hours after the event at (416) 849-0833, access code: 3091748. To access the conference call via webcast, a link is available at <a target=\"_blank\" href=\"http:\/\/www.choicereit.ca\/\" rel=\"nofollow noopener noreferrer\">www.choicereit.ca<\/a> in the \u00ab\u00a0Events and Webcast\u00a0\u00bb section under \u00ab\u00a0News and Events\u00a0\u00bb.<\/p>\n<p><b>About Choice Properties Real Estate Investment Trust<\/b><\/p>\n<p class=\"prntal\">Choice Properties, <span class=\"xn-location\">Canada\u2019s<\/span> preeminent diversified real estate investment trust, is the owner, manager and developer of a high-quality portfolio comprising 757 properties totaling 67.0 million square feet of gross leasable area. Choice Properties owns a portfolio comprised of retail properties predominantly leased to necessity-based tenants; industrial, office and residential assets concentrated in attractive markets; and an unmatched development pipeline. Choice Properties\u2019 strategic alliance with its principal tenant, Loblaw Companies Limited, the country\u2019s leading retailer, is a key competitive advantage providing long-term growth opportunities. For more information, visit Choice Properties\u2019 website at <a target=\"_blank\" href=\"http:\/\/www.choicereit.ca\/\" rel=\"nofollow noopener noreferrer\">www.choicereit.ca<\/a> and Choice Properties\u2019 issuer profile at <a target=\"_blank\" href=\"http:\/\/www.sedar.com\/\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/p>\n<p class=\"prntal\"><b>Non-GAAP Financial Measures and Additional Financial Information<\/b><\/p>\n<p class=\"prntal\">In addition to using performance measures determined in accordance with International Financial Reporting Standards (\u00ab\u00a0IFRS\u00a0\u00bb or \u00ab\u00a0GAAP\u00a0\u00bb), Choice Properties also measures its performance using certain additional non-GAAP measures, and provides these measures in this press release so that investors may do the same. Such measures and related per-unit amounts are not defined by IFRS and therefore should not be construed as alternatives to net income or cash flow from operating activities determined in accordance with IFRS. Furthermore, the supplemental measures used by Management may not be comparable to similar measures presented by other real estate investment trusts or enterprises. These terms, which include the proportionate share basis of accounting, net operating income (\u00ab\u00a0NOI\u00a0\u00bb), funds from operations (\u00ab\u00a0FFO\u00a0\u00bb), adjusted funds from operations (\u00ab\u00a0AFFO\u00a0\u00bb) and adjusted cash flow from operations (\u00ab\u00a0ACFO\u00a0\u00bb), are defined in Section 16, \u00ab\u00a0Non-GAAP Financial Measures\u00a0\u00bb, of the Choice Properties MD&amp;A for the period ended <span class=\"xn-chron\">June 30, 2018<\/span> and are reconciled to the most comparable IFRS measure.<\/p>\n<p class=\"prntaj\">Choice Properties Condensed Consolidated Financial Statements and MD&amp;A for the period ended <span class=\"xn-chron\">June 30, 2018<\/span> are available on Choice Properties\u2019 website at <a target=\"_blank\" href=\"http:\/\/www.choicereit.ca\/\" rel=\"nofollow noopener noreferrer\">www.choicereit.ca<\/a>. Readers are directed to these documents for financial details and a fulsome discussion on Choice Properties\u2019 results.<\/p>\n<p class=\"prntal\"><b>Cautionary Statements Regarding Forward-looking Statements<\/b><\/p>\n<p class=\"prntal\">This news release contains forward-looking statements relating to Choice Properties\u2019 operations and the environment in which the Trust operates, which are based on management\u2019s expectations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Management undertakes no obligation to publicly update any such statement, to reflect new information or the occurrence of future events or circumstances, except as required by law.<\/p>\n<p><b>Contact<\/b><\/p>\n<p class=\"prntal\">For further information, please contact: <br><span class=\"xn-person\">Stephen Johnson<\/span> <br>President and Chief Executive Officer <br>416-628-7878 <br><a target=\"_blank\" href=\"mailto:Stephen.Johnson@choicereit.ca\" rel=\"nofollow noopener noreferrer\">Stephen.Johnson@choicereit.ca<\/a> <\/p>\n<p class=\"prntal\"><span class=\"xn-person\">Rael Diamond<\/span> <br>Chief Operating Officer <br>416-628-7861 <br><a target=\"_blank\" href=\"mailto:Rael.Diamond@choicereit.ca\" rel=\"nofollow noopener noreferrer\">Rael.Diamond@choicereit.ca<\/a> <\/p>\n<p class=\"prntal\"><span class=\"xn-person\">Mario Barrafato<\/span> <br>Chief Financial Officer <br>416-628-7872 <br><a target=\"_blank\" href=\"mailto:Mario.Barrafato@choicereit.ca\" rel=\"nofollow noopener noreferrer\">Mario.Barrafato@choicereit.ca<\/a> <\/p>\n<p>SOURCE  Choice Properties Real Estate Investment Trust<\/p>\n<p><img decoding=\"async\" alt=\"Rt\" src=\"https:\/\/rt.newswire.ca\/rt.gif?NewsItemId=C7288&amp;Transmission_Id=201807181900CANADANWCANADAPR_C7288&amp;DateId=20180718\" style=\"border:0px; width:1px; height:1px;\"><\/p>\n","protected":false},"template":"","class_list":["post-16952","news-release","type-news-release","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Choice Properties Real Estate Investment Trust publie ses r\u00e9sultats pour le deuxi\u00e8me trimestre 2018 - Propri\u00e9t\u00e9s DeChoix<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.choicereit.ca\/news-release\/choice-properties-real-estate-investment-trust-reports-results-for-the-second-quarter-of-2018\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Choice Properties Real Estate Investment Trust publie ses r\u00e9sultats pour le deuxi\u00e8me trimestre 2018 - Propri\u00e9t\u00e9s DeChoix\" \/>\n<meta property=\"og:description\" content=\"TORONTO, July 18, 2018 \/CNW\/ \u2013 Choice Properties Real Estate Investment Trust (\u00ab\u00a0Choice Properties\u00a0\u00bb or the \u00ab\u00a0Trust\u00a0\u00bb) (TSX: CHP.UN) announced today its consolidated financial results for the second quarter ended June 30, 2018. 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