H&R Real Estate Staple (TSE:HR.UN) has released an update.
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H&R Real Estate Investment Trust announced the successful completion of the initial public offering for its Lantower Residential Real Estate Development Trust, raising $52 million for two major residential projects in Florida. These projects, set to begin soon, are expected to be completed by 2026, with the REDT acquiring a majority stake. The move aims to reduce cash flow demands and leverage on H&R, with CIBC World Markets Inc. acting as the IPO’s sole agent.
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