North American REIT Watch: Chinese Asset Manager to Launch U.S. REIT Tracking Fund

on Jun 19, 2013
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**United States & China**

**GF Fund Management to Launch US REIT Tracking Fund**
Chinese asset manager GF Fund Management will next month launch the country’s first fund that will track a U.S. property index in order to meet rising demand from domestic investors. The fund will match the performance of the MSCI US REIT Index and invest via China’s QDII programme, which allows purchases of financial assets from within the country.

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“The U.S. economy and property market are recovering,” Chairman Wang Zhiwei told reports in Shanghai today, June 19. “It’s a good time for such investment; it will be good to start with tracking an index rather than actively investing in properties or developers’ shares, since we are still new to the foreign market.”
The asset management company will start accepting public subscriptions for the new fund on July 8.

**American Capital Agency Slashes Dividend by 16 Percent**
American Capital Agency, a real estate investment trust investing in agency mortgage-backed securities, has slashed its quarterly dividend by 16 percent to $1.05 from $1.25 in the previous quarter. The dividend will be payable on July 26 to shareholders of record on June 28.
**Ellington Residential Mortgage to Pay $0.14 in Q2 Dividend**

Ellington Residential Mortgage, a real estate investment trust investing in residential mortgage-backed securities, said yesterday it would distribute a dividend for the second quarter of 2013 of $0.14, payable on June 26 to shareholders of record on June 28.
**Canada**
**HealthLease Properties to Buy Seniors Housing and Care Facility for $17.86 Million**

HealthLease Properties REIT, a real estate investment trust investing in seniors housing and care facilities located in the U.S. and Canada, said today it had agreed to acquire a newly-built, fully leased 100-unit facility. The REIT will pay $17.86 million (₤11.4 million) for the Wellbrooke of Westfield property, located in Hamilton County, Indiana.
“We are very pleased to add this brand-new, high-quality property to the HealthLease portfolio,” said Zeke Turner, chairman and chief executive of the REIT. “This Class A+ property in a fast growing market is anticipated to be immediately accretive to the REIT.”
**Crombie REIT to Pay C$0.07417 June Dividend**
!m[HealthLease Properties to Pay $17.86 Million for Class A+ Property](/uploads/story/3221/thumbs/pic1_inline.png)
Crombie REIT (TSE:CRR.UN), a real estate investment trust investing primarily in retail properties, announced today a dividend of C$0.07417 for June 2013. The distribution will be paid on July 15 to shareholders of record on June 30.
**True North Apartment to Pay C$0.05825 June Dividend**
True North Apartment (TSE:CRR.UN), a real estate investment trust with a portfolio of multi-suite residential rental properties, announced today a dividend of C$0.05825 for June 2013. The distribution will be paid on July 15 to shareholders of record on June 28.
True North Apartment is also offering its shareholders the opportunity to participate in a Distribution Reinvestment Plan (DRIP), which allows eligible investors to have their monthly dividends used to purchase additional shares in the company at a three percent discount.
American Capital Agency’s stock price was $25.82 as of 19.06.2013, 15.12 BST.
**Ellington Residential Mortgage’s stock price was $17.89 as of 19.06.2013, 15.12 BST.**
**HealthLease Properties’ stock price was C$10.97 as of 19.06.2013, 15.12 BST.**
**Crombie REIT’s stock price was C$14.44 as of 19.06.2013, 15.15 BST.**
**True North Apartment’s stock price was C$8.29 as of 19.06.2013, 15.15 BST.**

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