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Sun Residential Real Estate Investment Trust ( (TSE:SRES) ) has shared an announcement.
Sun Residential REIT has announced plans to sell its primary assets and subsequently wind up and terminate the trust. The decision comes after the Board’s assessment that raising public equity capital in Canada remains challenging for small growth-oriented issuers like Sun. The sale involves the transfer of Sun’s interests in two properties, with the proceeds to be distributed to unitholders. This move marks a strategic shift due to the difficulties in scaling operations and attracting necessary capital for growth.
More about Sun Residential Real Estate Investment Trust
Sun Residential Real Estate Investment Trust is involved in the real estate industry, focusing on multi-family residential properties. Its primary assets include a 51% interest in Evergreen at Southwood, a Class A multi-family residential property in Tallahassee, Florida, and an 8-unit multi-family property in Cape Coral, Florida.
YTD Price Performance: 10.0%
Average Trading Volume: 202,336
Technical Sentiment Signal: Sell
Current Market Cap: C$11.18M
Find detailed analytics on SRES stock on TipRanks’ Stock Analysis page.