H&R’s is a Toronto based REIT that invests primarily in development and construction of projects. H&R’s strategy to accomplish this objective is to accumulate a diversified portfolio of high quality investment properties in Canada and the United States leased by creditworthy tenants. H&R’s strategy to mitigate risk includes diversification both by asset class and geographic location. H&R invests in four real estate asset classes which management views as four separate operating segments. H&R invests in residential, industrial, office and retail properties and acquires properties both in Canada and the United States.