H&R REIT calls off sale after unitholders vote against transaction

Summary

• H&R Real Estate Investment Trust cancelled its $6.7-billion deal to sell all assets to GO Residential Real Estate Investment Trust & a consortium including Blackstone Inc. & entities linked to CEO Tom Hofstedter.
• The transaction was halted after H&R unitholders voted against the proposal.
• H&R will remain a publicly traded entity with units continuing to trade on the Toronto Stock Exchange.
• The deal faced opposition from unitholders such as Mill Pond Capital.
• H&R holds a portfolio of residential, industrial & office properties in Canada & the United States.