H&R REIT (HR.UN) 2013年年度报告「TSX」.pdf

1、 H&R Real Estate Investment Trust and H&R Finance Trust 2013 Annual Report Including Combined MD&A and Financial Statements TheBow,CalgaryScotiaPlaza,TorontoCorusQuay,Toronto H&R Profile H&R REIT is an open-ended real estate investment trust,which owns a North American portfolio of 42 office,112 ind

2、ustrial and 167 retail properties comprising over 53 million square feet and 2 development projects,with a fair value of approximately$13 billion.In addition,H&R REIT owns a 33.7%interest in ECHO Realty LP(“ECHO”)which owns 173 properties,excluding properties under development and vacant land,totall

3、ing 7.3 million square feet.The foundation of H&R REITs success since inception in 1996 has been a disciplined strategy that leads to consistent and profitable growth.H&R REIT leases its properties for long terms to creditworthy tenants and strives to match those leases with primarily long-term,fixe

4、d-rate financing.H&R Finance Trust is an unincorporated investment trust,which primarily invests in notes issued by a U.S.corporation which is a subsidiary of H&R REIT.As at December 31,2013,the note receivable balance is U.S.$219.8 million.In 2008,H&R REIT completed an internal reorganization which

5、 resulted in each issued and outstanding H&R REIT unit trading together with a unit of H&R Finance Trust as a“Stapled Unit”on the Toronto Stock Exchange.Additional information regarding H&R REIT and H&R Finance Trust is available at www.hr- and on .Primary Objectives H&R strives to achieve two prima

6、ry objectives:to provide unitholders with stable and growing cash distributions generated by revenues derived from a diversified portfolio of investment properties,and to maximize the value of units through active management of H&Rs assets,acquisition of additional properties,and the development of