Canadian Net buys Riviere-du-Loup property for $4.43M

Mr. Kevin Henley reports CANADIAN NET REIT ANNOUNCES THE ACQUISITION OF A PROPERTY IN RIVIERE-DU-LOUP, QC Canadian Net Real Estate Investment Trust has acquired a single-tenant retail property leased to Bureau en Gros (Staples), located at 250 boulevard de l'Hotel-de-Ville, Riviere-du-Loup, Que. The purchase price was $4.43-million (excluding transaction costs), paid in cash. "We are pleased to add this Bureau en Gros property to our growing portfolio," said Kevin Henley, president and chief executive officer. "Located in one of the most desirable positions within the retail node of Riviere-du-Loup, this acquisition is a textbook example of what we look for: a nationally tenanted, triple net property in a great secondary market. The transaction is immediately accretive to FFO per unit and further strengthens our portfolio." As a result of this acquisition, the trust now owns a total of 98 properties. About Canadian Net Real Estate Investment Trust Canadian Net is an open-ended trust that acquires and owns high-quality triple net and management-free commercial real estate properties. We seek Safe Harbor.