Canadian Net REIT Expands Portfolio with Strategic Property Acquisitions in Quebec

Canadian Net Real Estate Investment Trust, an open-ended trust listed under TSX-V: NET.UN, has announced its acquisition of three properties in Saguenay, Quebec. Valued at $12 million, the newly acquired properties enhance Canadian Net's portfolio and align with their strategy of targeting necessity-based, nationally tenanted, triple-net properties. The properties acquired include a grocery store under the IGA banner, a pharmacy under the Jean-Coutu banner, and a bank operated by the National Bank of Canada. The acquisitions were made through an off-market process and are expected to be immediately accretive on an FFO per unit basis. The Trust, which now holds 97 properties, noted the strategic sales from last year as a catalyst for organic growth, reinforcing its strategy in real estate acquisition. However, Canadian Net acknowledged risks in future projections related to economic and market factors, tenant financial stability, and interest rates, as spelled out in its forward-looking statements. Kevin Henley, President and CEO, has made a call for further inquiries.