H&R confirmed Friday it has held preliminary discussions with affiliates of global private-equity giant Blackstone regarding the potential sale of certain REIT assets.

The disclosure follows a request from the Canadian Investment Regulatory Organization related to recent trading activity in H&R units and media reports concerning the REIT. The regulator temporarily halted trading of the H&R’s units before lifting the suspension Thursday afternoon.

H&R said the discussions with Blackstone have been preliminary and non-exclusive.

The REIT emphasized that it has not entered into any agreements with Blackstone and cautioned that there is no assurance a sale or any other transaction will proceed.

H&R said it intends to provide further updates only if circumstances warrant and in accordance with applicable securities laws.

In late November 2025, H&R announced that it had entered into binding agreements with multiple buyers to sell retail and office properties in Canada and the United States for a total price of $1.5 billion. The deals come after H&R announced plans earlier that month to sell $2.6 billion worth of assets following a strategic review that did not result in a sale of the entire business, but still generated multiple bids for specific properties.

H&R is one of Canada’s largest REITs, with ownership interests in a portfolio of residential, industrial and office properties across Canada and the U.S. Its portfolio, which includes its Lantower Residential operations, totals approximately 20.3 million square feet.

Photo: H&R REIT’s River Landing mixed-use property in Miami.

Photo: Realtor.com

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