H&R REIT (HR.UN) 2019年年度报告「TSX」.pdf

1、 H&R Real Estate Investment Trust 2019 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$14.5 billion at December 31,2019.H&R REIT has ownership interests in

2、 a North American portfolio of high quality office,retail,industrial and residential properties comprising over 41 million square feet.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 primary objectives:to m

3、aximize the value of units 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 pruden

4、t risk management and 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 throug

5、h long-term property leasing and financing,combined with conservative management of assets and liabilities.Ontario28%United States40%Alberta23%Other Canadian Provinces 9%Fair Value of Investment Propertiesby Geographic regionRetail 30%Office 43%Residential 20%Industrial 7%Fair Value of Investment Pr

6、opertiesby Type of AssetP a g e|1February 13,2020 Fellow Unitholders,Over the past several years,management and the board of H&R REIT(“H&R”)have been actively reviewing the REITs operations and strategy,with the objectives of improving the quality and value of the REITs portfolio,and improving the p