Scott's REIT reports second quarter 2011 financial results and August distribution
Sale and leaseback transaction."Scott's REIT continues to deliver on its promise of stability, reliability and prudent growth," said John I. Bitove, Chief Executive Officer of Scott's REIT. "Not only did we deliver a solid balance sheet despite a challenging quarter, we continue to demonstrate the financial flexibility required to pursue strategic acquisitions with high-profile national retailers like Shoppers Drug Mart. Our goal of significantly diversifying our tenant base since our IPO is near completion and will set us in a stronger direction."
Subject to satisfactory completion of due diligence and other customary closing conditions, the second sale and leaseback transaction with Shoppers Drug Mart is scheduled to be completed in the third quarter of 2011.
Financial Performance
Scott's REIT reported revenue of sale and leaseback transaction. Eight of the properties are located in Ontario and one is in Saskatchewan. Five of the nine locations to be acquired are newly built and three properties are on long-term land leases. The properties will be leased long-term to Shoppers Realty Inc. and are tenanted by Shoppers Drug Mart stores. This transaction is expected to close during the third quarter.
Scott's REIT previously acquired 12 properties from Shoppers Drug Mart as part of a , Priszm announced that it had amended its purchase and sale agreement with Soul Restaurants, which reduced the number of operating restaurants in properties owned by the REIT to 63 from 79.
Scott's REIT has asserted a claim on a portion of the sale proceeds associated with the 63 Scott's REIT properties that are subject to this transaction. The court appointed monitor for Priszm has agreed to set aside , Priszm announced that it had successfully completed the sale of 204 restaurants to Soul Restaurants, affecting the 63 properties mentioned above. Officially, 32 stores have been automatically assigned to Soul Restaurants in accordance with the terms of the applicable leases. Soul Restaurants is required to pay the rent on these properties.
The remaining 31 leases still require the REIT's consent to be assigned to Soul Restaurants. Although Scott's REIT provided Priszm with the consent agreement to assign these leases on and Nova Scotia to FMI Atlantic Inc., a related party to a YUM! franchisee. Scott's REIT is currently evaluating this new announcement to ascertain whether any of the restaurants named in the asset purchase agreement are located on properties owned by the REIT.
Saskatchewan For Sale By Owner - News
Premier Brad Wall made the announcement this morning in the town in northwest Saskatchewan. Carrier Forest Products will be opening the mill – which is big news for the region's economy. The former Weyerhaeuser saw mill near Big River has been closed
Magnum Hunter Resources Corporation is an independent oil and gas company engaged in the acquisition, development and production of oil and natural gas, primarily in the states of West Virginia, Kentucky, Ohio, Texas, North Dakota and Saskatchewan,
UN) ("Scott's REIT" or the "REIT"), Canada's leading owner of small box retail properties, today reported its financial results for the second quarter ended June 30, 2011 and its monthly cash distribution for August 2011.
Racers from Alberta, BC, Saskatchewan and the Northwest Territories were in attendance for the event as a field of over 90 riders came out to compete in novice, intermediate and expert races from July 15-17. Track owner Dan Beith explained a good pace
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Saskatchewan For Sale By Owner - Bookshelf
The Saskatchewan law reports
The Court held that what took place in that case was merely "the ordinary case of an owner putting his property in the hands of an agent to negotiate a sale ...Statutes of the Province of Saskatchewan
The purchaser shall on receipt of the secretary treasurer's certificate of sale become the owner of the land so far as to have all necessary rights and ...The revised statutes of Saskatchewan, 1953, published under the authority of the Act Respecting the Consolidation and Revision of the Statutes of Saskatchewan, passed in the fifth session of the eleventh legislature
Sale where owner unknown after such notices have been posted for eight days, he shall sell the impounded animal by public auction in accordance with the ...Annual report of the Department of Agriculture of the Province of Saskatchewan
After the judging is completed each exhibit is labelled with the name of the owner, the amount of grain for sale and the selling price per bushel. ...Statutes of the Province of Saskatchewan
... registration re certain trade Judicial Isolated transactions by owner 20. ... guardian's or committee's sale, or at a sale by an authorized trustee or ...Day-by-day News Directory
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