H&R REIT (HR.UN) 2018年年度报告「TSX」.pdf

1、 H&R Real Estate Investment Trust 2018 Annual Report TheBow,CalgaryOrchardPark,KelownaAirportRoad,Brampton SleepCountry H&R Profile H&R REIT is one of Canadas largest real estate investment trusts with total assets of approximately$14.7 billion at December 31,2018.H&R REIT has ownership interests in

2、 a North American portfolio of high quality office,retail,industrial and residential properties comprising over 42 million square feet.Additional information regarding H&R REIT is available at www.hr- and on .Primary Objectives H&R strives to achieve two primary objectives:to maximize the value of u

3、nits through active management of H&Rs assets and to provide unitholders with stable and growing cash distributions generated by revenues derived from a diversified portfolio of investment properties.We are committed to maximizing returns to unitholders while maintaining prudent risk management and

4、conservative use of financial leverage.Stability and Growth through Discipline Since inception in 1996,H&R has executed a disciplined and proven strategy that has provided stable cash flow from a high quality portfolio.We achieve our primary objectives and mitigate risks through long-term property l

5、easing and financing,combined with conservative management of assets and liabilities.Ontario33%United States33%Alberta25%Other Canadian Provinces9%Fair Valueby Geographic regionRetail31%Office49%Multi-family13%Industrial7%Fair Valueby Type of AssetP a g e|1February 14,2019 Fellow Unitholders,Looking

6、 back on 2018,H&R REIT(“H&R”)made significant progress towards the goals set out in our Letter to Unitholders a year ago.These goals include streamlining and simplifying our portfolio and recycling capital into higher growth properties,while enhancing the profile of H&R to our unitholders.In 2018 we