11:42 AM EST - Whiterock Real Estate Investment Trust : announced that it has entered into a binding contract to acquire 460 Two Nations Crossing, located in Fredericton, for $9.7 million before closing costs. Whiterock will have a 40% equity interest in the property, a long-term property management contract and a right of first opportunity to purchase the partner's interest in the asset. Whiterock's equity investment in this property, after assumption of the existing debt, will be about $1.3 million, with an in-place AFFO return of 17%. Whiterock intends to use cash on hand to finance its investment. On acquisition, the in-place AFFO from the property will add almost $0.05 per unit to Whiterock's annualized AFFO. Whiterock Real Estate Investment Trust
shares T.WRK.UN are trading up $0.58 at $27.30.
