![\"Photo_Asset_1\"](\"https:\/\/mma.prnewswire.com\/media\/1045008\/Choice_Properties_Real_Estate_Investment_Trust_Choice_Properties.jpg\" "\\"Choice")
<\/p>\n<\/p>\n
\/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES<\/span>.\/<\/p>\n TORONTO<\/span>, Dec. 16, 2019<\/span> \/CNW\/ \u2013 Choice Properties Real Estate Investment Trust (\u00ab\u00a0Choice Properties<\/b>\u00a0\u00bb or the \u00ab\u00a0Trust<\/b>\u00ab\u00a0) (TSX: CHP.UN) announced today that the trustees of Choice Properties have declared a cash distribution for the month of December 2019<\/span> of $0.061667<\/span> per trust unit, representing $0.74<\/span> per trust unit on an annualized basis, payable on January 15, 2020<\/span> to Unitholders of record at the close of business on December 31<\/span>, 2019. <\/p>\n Special Distribution<\/b><\/p>\n Choice Properties further announced today that its trustees have also declared a special non-cash distribution of $0.07<\/span> per trust unit, payable on December 31, 2019<\/span> to Unitholders of record at the close of business on December 31, 2019<\/span> (the \u00ab\u00a0Special Distribution<\/b>\u00ab\u00a0). The combination of the annualized distribution of $0.74<\/span> per trust unit together with the Special Distribution of $0.07<\/span> per trust unit will represent a total annualized amount of $0.81<\/span> per trust unit. The Special Distribution represents a portion of the net realized capital gains of the Trust for the 2019 fiscal year. Accordingly, the Special Distribution will be in the form of a capital gain for Canadian income tax purposes. <\/p>\n The Special Distribution is principally being made to distribute to Unitholders a portion of capital gain realized by the Trust upon the closing of its previously announced sale of a 30-property portfolio to a third-party purchaser on September 30, 2019<\/span> for an aggregate sale price of approximately $426 million<\/span>.<\/p>\n Canadian resident Unitholders will generally be required to include their proportionate share of the Trust\u2019s income and net taxable capital gain for the 2019 tax year as allocated and designated by the Trust in computing their respective income for the 2019 tax year.<\/p>\n The Special Distribution will be paid at the close of business on December 31, 2019<\/span> solely by the issuance of additional trust units that will have a fair market value equal to the dollar amount of the Special Distribution and which will be based on the closing price of the trust units on the TSX on December 31, 2019<\/span>. Immediately after the payment of the Special Distribution, the issued and outstanding trust units will be consolidated such that the aggregate number of issued and outstanding trust units will be the same as immediately before the Special Distribution. The amount of the Special Distribution will increase the adjusted cost base of Unitholders\u2019 consolidated trust units. Unitholders not resident in Canada<\/span> for Canadian federal income tax purposes may be subject to applicable withholding taxes in connection with the payment of the Special Distribution. <\/p>\n About Choice Properties Real Estate Investment Trust SOURCE Choice Properties Real Estate Investment Trust<\/p>\n\n<\/p>\n\n<\/div>\n
C<\/b>hoice Properties, Canada\u2019s<\/span> preeminent diversified real estate investment trust, is the owner, manager and developer of a high-quality portfolio comprising 726 properties totaling 65.8 million square feet of gross leasable area. Choice Properties owns a portfolio comprised of retail properties predominantly leased to necessity\u2010based tenants; industrial, office and residential assets concentrated in attractive markets; and offers an impressive and substantial 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 www.choicereit.ca<\/a> and Choice Properties\u2019 issuer profile at www.sedar.com<\/a>.<\/p>\n<\/div>\n![\"Rt\"](\"https:\/\/rt.newswire.ca\/rt.gif?NewsItemId=C9922&Transmission_Id=201912160800CANADANWCANADAPR_C9922&DateId=20191216\")
<\/p>\n","protected":false},"template":"","class_list":["post-17036","news-release","type-news-release","status-publish","hentry"],"yoast_head":"\n