May 18, 2018 / 12:28 PM / in 5 months

BRIEF-R&R REIT Announces $31.5 Mln Portfolio Acquisition

May 18 (Reuters) - R&R Real Estate Investment Trust :

* R&R REIT ANNOUNCES US$31.5 MILLION PORTFOLIO ACQUISITION

* R&R REAL ESTATE INVESTMENT TRUST - ACQUISITION EXPECTED TO BE IMMEDIATELY ACCRETIVE TO FFO AND AFFO PER UNIT OF REIT

* R&R REAL ESTATE INVESTMENT TRUST - REIT AGREES TO ACQUIRE PORTFOLIO OF FIVE ECONOMY EXTENDED-STAY HOTELS LOCATED IN U.S., COMPRISING 656 ROOMS

* R&R REIT- AS PARTIAL CONSIDERATION, VENDORS WILL RECEIVE ABOUT US$11 MILLION OF CLASS B LIMITED PARTNERSHIP UNITS OF NEWLY-FORMED LIMITED PARTNERSHIPS

* R&R REAL ESTATE INVESTMENT TRUST - INDEPENDENT TRUSTEES OF REIT UNANIMOUSLY RECOMMEND THAT UNITHOLDERS VOTE IN FAVOUR OF ACQUISITION

* R&R REIT - DEAL TO BE FUNDED BY ASSUMPTION OF ABOUT US$20.5 MILLION PRINCIPAL AMOUNT OF EXISTING MORTGAGE DEBT RELATED TO ACQUISITION PROPERTIES

* R&R REIT - DEAL ALSO TO BE FUNDED BY ISSUANCE TO VENDORS OF APPROXIMATELY US$11 MILLION OF CLASS B LP UNITS, AT A PRICE OF C$0.20 PER CLASS B LP UNIT

* R&R REIT - DEAL ALSO TO BE FUNDED BY ABOUT US$0.6 MILLION IN CASH Source text for Eikon: Further company coverage:

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