Subjects: NEW PRODUCTS/SERVICES, v
Melcor REIT announces July distribution of $0.03 per unit, July rent collection update
EDMONTON, Alberta, July 15, 2020 (GLOBE NEWSWIRE) -- Melcor Real Estate Investment Trust (TSX: MR.UN) today announced that the Trustees of the REIT have declared cash distributions of $0.03 per unit for the month of July.
The July distribution will be payable as follows:
| Month | Record Date | Distribution Date | Distribution Amount |
| July 2020 | July 31, 2020 | August 17, 2020 | $0.03 per unit |
The REIT also updated unitholders on collections to date in the quarter. We have received 86% of April rent, 80% of May rent, 78% of June rent and 78% of July rent. Melcor is applying for the Canadian Emergency Commercial Rent Assistance (CECRA) program on behalf of tenants; however, no applications have been processed to date and the REIT is uncertain how many tenants will meet eligibility requirements.
Melcor REIT announced that results for the second quarter ended June 30, 2020 will be released on August 6, 2020 after market close. Management will host a conference call at 11:00 am ET (9:00 am MT) on Friday, August 7, 2020.
Q2 Conference Call
Toronto & Area: 1-416-915-3239
Toll Free: 1-800-319-4610
Webcast & Replay
The call will also be webcast (listen only) at http://www.gowebcasting.com/10700. A replay of the call will be available at the same URL shortly after the call is concluded.
About Melcor REIT
Melcor REIT is an unincorporated, open-ended real estate investment trust. Melcor REIT owns, acquires, manages and leases quality retail, office and industrial income-generating properties in western Canada. Its portfolio is currently made up of interests in 39 properties representing approximately 3.2 million square feet of gross leasable area located across Alberta and in Regina, Saskatchewan and Kelowna, British Columbia. For more information, please visit www.melcorREIT.ca.
Forward-Looking Information
This press release contains forward-looking information as defined under applicable Canadian securities law (forward-looking information or forward-looking statements) which reflect management's expectations regarding objectives, plans, goals, strategies, growth, results of operations, performance, business prospects and opportunities of the REIT. Statements other than statements of historical fact contained in this press release may be forward-looking information. The REIT has based these forward-looking statements on its current expectations and assumptions about future events, which may prove to be incorrect.
When relying on forward looking statements to make decisions, readers are cautioned not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results and do not take into account the effect of transactions or other items announced or occurring after the statements are made. All forward-looking information in this press release speaks as of the date of this press release. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. The REIT does not undertake any obligation to update any such forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
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