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News Article | November 17, 2016
Site: www.marketwired.com

TORONTO, ONTARIO--(Marketwired - Nov. 17, 2016) - Smart Real Estate Investment Trust (TSX:SRU.UN) announced that the trustees of SmartREIT have declared a distribution for the month of November 2016 of CDN $0.14167 per trust unit, representing CDN $1.70 per unit on an annualized basis. Payment will be made on December 15, 2016 to unitholders of record on November 30, 2016. SmartREIT offers Canadian unitholders the option to participate in a Distribution Reinvestment Plan ("DRIP"), a convenient and economical opportunity to automatically reinvest monthly distributions in additional units without the payment of any commissions, service charges or brokerage fees, at a price equal to 97% of the average TSX market price over the 10 business days preceding the monthly distribution date. Additional information regarding the DRIP is available at http://www.smartreit.com/investing/distributions/. SmartREIT is one of Canada's largest real estate investment trusts with total assets in excess of $8.6 billion. It owns and manages in excess of 31 million square feet in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartREIT is a joint-venture partner in the Toronto and Montreal Premium Outlets with Simon Property Group. SmartREIT's core vision is to provide a value-oriented shopping experience in all forms to Canadian consumers and over time create high quality mixed use developments in urban settings. With SmartREIT's 2015 acquisition of SmartCentres, SmartREIT has transformed into a fully integrated real estate provider. SmartREIT and SmartCentres have had a long and successful alliance, helping to provide Canadians with value-focused retail shopping centres across the country. Now, the alliance has grown even stronger, the result is a fully integrated real estate provider with expertise in planning, development, leasing, operations and construction - all under one roof. For more information on SmartREIT, visit www.smartreit.com.


News Article | December 20, 2016
Site: www.marketwired.com

TORONTO, ONTARIO--(Marketwired - Dec. 20, 2016) - Smart Real Estate Investment Trust (TSX:SRU.UN) announced that the trustees of SmartREIT have declared a distribution for the month of December 2016 of CDN $0.14167 per trust unit, representing CDN $1.70 per unit on an annualized basis. Payment will be made on January 16, 2017 to unitholders of record on December 30, 2016. SmartREIT offers Canadian unitholders the option to participate in a Distribution Reinvestment Plan ("DRIP"), a convenient and economical opportunity to automatically reinvest monthly distributions in additional units without the payment of any commissions, service charges or brokerage fees, at a price equal to 97% of the average TSX market price over the 10 business days preceding the monthly distribution date. Additional information regarding the DRIP is available at http://www.smartreit.com/investing/distributions/. SmartREIT is one of Canada's largest real estate investment trusts with total assets in excess of $8.6 billion. It owns and manages in excess of 31 million square feet in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartREIT is a joint-venture partner in the Toronto and Montreal Premium Outlets with Simon Property Group. SmartREIT's core vision is to provide a value-oriented shopping experience in all forms to Canadian consumers and to create high quality mixed use developments in urban settings. With SmartREIT's 2015 acquisition of SmartCentres, SmartREIT has transformed into a fully integrated real estate provider. SmartREIT and SmartCentres have had a long and successful alliance, helping to provide Canadians with value-focused retail shopping centres across the country. Now, the alliance has grown even stronger, the result is a fully integrated real estate provider with expertise in planning, development, leasing, operations and construction - all under one roof. For more information on SmartREIT, visit www.smartreit.com.


News Article | February 15, 2017
Site: www.marketwired.com

TORONTO, ONTARIO--(Marketwired - Feb. 15, 2017) - Smart Real Estate Investment Trust ("SmartREIT") (TSX:SRU.UN) announced today that it has entered into a Letter of Intent to form a 50/50 joint venture partnership with SmartStop Asset Management, LLC ("SmartStop"), a leading North American developer and operator of self-storage facilities, to build and co-own rental self-storage facilities in Canada. Typical facilities range in size from 75,000 to 125,000 square feet and include a mix of rental units in various sizes. This strategic partnership will provide SmartREIT with the opportunity to further intensify its portfolio and generate additional funds from operations. There will also be opportunities to include leasable retail in certain locations. Two locations in the Greater Toronto Area have been confirmed and plans for multiple other locations are expected to be announced in the coming months. "We view today's 3rd generation, multi-storey self-storage facilities as being a complementary use within and around our centres, requiring minimal land and parking, resulting in efficient rental income value creation," said Huw Thomas, Chief Executive Officer of SmartREIT. "This strategic alliance is a logical step as we continue to intensify our shopping centres and unlock value in under-utilized parcels of land within our portfolio. We are very pleased to partner with SmartStop, a leader in the self-storage industry with a proven expertise and track record to expand the business in partnership across Canada." "We are excited to partner with one of the largest Canadian REITs and utilize SmartREIT's prime retail properties for additional SmartStop® Self Storage locations," said H. Michael Schwartz, Founder and Chief Executive Officer of SmartStop. "This joint venture gives SmartStop the opportunity to expand its existing 12-property portfolio in the Greater Toronto Area to other major metropolitan areas across Canada. By leveraging SmartStop's existing online marketing expertise, institutional management, and revenue optimization systems, the partnership will provide growth for both SmartREIT and SmartStop." SmartREIT is one of Canada's largest real estate investment trusts with total assets in excess of $8.7 billion. It owns and manages 32 million square feet in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartREIT is a joint-venture partner in the Toronto and Montreal Premium Outlets with Simon Property Group. SmartREIT is now expanding the breadth of its portfolio to include residential (condominium and rental), office, and self-storage, either on its large urban properties such as the Vaughan Metropolitan Centre or as an adjunct to its existing shopping centres. SmartREIT's core vision is to provide a value-oriented shopping experience in all forms to Canadian consumers and to create high quality mixed use developments in urban settings. With SmartREIT's 2015 acquisition of SmartCentres, SmartREIT has transformed into a fully integrated real estate provider. SmartREIT and SmartCentres have had a long and successful alliance, helping to provide Canadians with value-focused retail shopping centres across the country. Now, the alliance has grown even stronger, the result is a fully integrated real estate provider with expertise in planning, development, leasing, operations and construction - all under one roof. For more information on SmartREIT, visit www.smartreit.com. SmartStop is a diversified real estate company focused on self storage assets, along with student and senior housing. The company has a managed portfolio that currently includes more than 65,000 self storage units and approximately 7.5 million rentable square feet and approximately $1 billion of real estate assets under management. The company is the asset manager for 103 self storage facilities located throughout the United States and Toronto, Canada and one student housing facility. SmartStop is the sponsor of both Strategic Storage Trust II, Inc. and SSGT, both public non-traded REITs focusing on self storage assets. The facilities offer affordable and accessible storage units for residential and commercial customers. In addition, they offer secure interior and exterior storage units as well as outside storage areas for vehicles, RVs and boats. Additional information is available at www.smartstopassetmanagement.com and more information about SmartStop® Self Storage in Canada at smartstop.ca. Certain statements in this Press Release are "forward-looking statements" that reflect SmartREIT's expectations regarding future growth and business prospects. More specifically, certain statements that contain words such as "expect", "will", and similar expressions and statements relating to matters that are not historical facts and constitute "forward-looking statements". Such forward-looking statements reflect SmartREIT's current beliefs and are based on information currently available to SmartREIT. However, such forward-looking statements involve risks and uncertainties and a number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Although the forward-looking statements contained in this Press Release are based on what SmartREIT believes to be reasonable assumptions, SmartREIT cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. These forward-looking statements are made as at the date of this Press Release and SmartREIT assumes no obligation to update or revise them to reflect new events or circumstances unless otherwise required by applicable securities legislation.


News Article | November 2, 2016
Site: www.marketwired.com

TORONTO, ONTARIO--(Marketwired - Nov. 2, 2016) - Smart Real Estate Investment Trust ("SmartREIT" or "the Trust") (TSX:SRU.UN) is pleased to report positive results for the third quarter ended September 30, 2016. Huw Thomas, CEO of SmartREIT said, "Our two key focuses remain the health of our core retail holdings and the development of a strong pipeline of growth initiatives and we are pleased with the progress on both fronts. Despite a very competitive market, our principally Walmart anchored sites are able to attract new tenants and increase occupancy. The investments we are making in developing multiple projects in our large urban sites continue to have a modest negative impact on our current profitability but we are confident that these mixed-use investments will provide significant long term benefits for our Unitholders as they become part of our extended portfolio," added Thomas. On August 16, 2016, the Trust completed the acquisition of a property in Lethbridge, Alberta, from a third party, totalling 53,392 square feet of leasable area. The total purchase price of this acquisition was $15.3 million, which included $6.2 million paid in cash and the assumption of a mortgage of $9.2 million, adjusted for costs of acquisition and other working capital amounts. The following table summarizes SmartREIT's key financial highlights for the three months ended September 30 (including the Trust's share of investment in associates): Rentals from investment properties for the three months ended September 30, 2016, totalled $174.1 million, a $1.2 million or 0.7% increase over the same period last year. Net base rent increased by $0.2 million or 0.2%, primarily due to rent increases from new and renewing tenants, partially offset by higher vacancies, and income from acquisitions that closed during 2015 and 2016, as well as Earnouts and completed Developments that occurred during 2015 and 2016. Property operating costs recovered increased by $0.1 million or 0.1% due to the related increases in recoverable costs with the growth in the portfolio. The Trust recovered 95.9% of total recoverable expenses during the three months ended September 30, 2016, compared to 99.9% in the same quarter last year. Non-recovery of most of the remaining costs resulted from higher vacancies, fixed recovery rates for some tenants, restrictions contained in certain anchor tenant leases, unfavourable property operating cost recovery adjustments made in 2016 for prior years of $0.3 million and favourable realty tax adjustments made in 2015 for prior years of $0.6 million. In comparison to the same quarter in 2015, NOI decreased by $1.1 million or 0.9% in 2016, primarily as a result of the increase in recoverable costs, net of recoveries, of $2.3 million attributable to additional shortfall and prior year adjustments as discussed above, partially offset by the increase in miscellaneous revenue mainly due to the increase in settlement proceeds and short term rental revenue of $0.9 million. For the three months ended September 30, 2016, FFO excluding adjustments decreased by $0.4 million or 0.5% to $83.5 million and remained the same on a per Unit basis ($0.54) compared to the same quarter of 2015. The decrease in FFO excluding adjustments of $0.4 million was primarily due to a decrease in NOI of $1.1 million, an increase in general and administrative expense of $0.5 million, partially offset by an increase in salaries and related costs attributed to leasing - which are added back to FFO - in the amount of $0.9 million and an increase in interest income of $0.1 million. For the three months ended September 30, 2016, AFFO decreased by $1.0 million or 1.2% to $78.7 million and by 1.9% to $0.51 on a per Unit basis compared to the same quarter of 2015. The decrease in AFFO of $1.0 million was primarily due to the decreases described in FFO above for the three months ended September 30, 2016, further decreased by adjusted salaries and related costs attributed to leasing of $0.6 million. The following table summarizes SmartREIT's key financial highlights for the nine months ended September 30 (including the Trust's share of investment in associates): Rentals from investment properties for the nine months ended September 30, 2016, totalled $541.0 million, a $48.8 million or 9.9% increase over the nine months ended September 30, 2015. Net base rent increased by $26.5 million or 8.2%, primarily due to rent increases from new and renewing tenants, partially offset by higher vacancies, and income from acquisitions that closed during 2015 and 2016, as well as Earnouts and completed Developments that occurred during 2015 and 2016. Property operating cost recoveries increased by $11.4 million or 7.1% due to the related increases in recoverable costs with the growth of the Trust's portfolio. In addition, the increase to miscellaneous revenue for the nine months ended September 30, 2016 was primarily due to $9.7 million settlement proceeds associated with the Target lease terminations net of other amounts. The Trust recovered 96.6% of total recoverable expenses during the nine months ended September 30, 2016, compared to 98.8% in the same period last year. Non-recovery of most of the remaining costs resulted from higher vacancies, fixed recovery rates for some tenants, restrictions contained in certain anchor tenant leases, unfavourable property operating cost recovery adjustments made in 2016 for prior years of $0.6 million and favourable realty tax adjustments made in 2015 for prior years of $1.3 million. In comparison to the same period in 2015, NOI increased by $32.4 million or 10.0% in 2016, primarily as a result of: a) the growth of the Trust's portfolio mainly due to the Transaction that closed on May 28, 2015, resulting in an increase to NOI of $24.6 million and b) the increase to miscellaneous revenue, which was primarily due to $9.7 million settlement proceeds associated with the Target lease terminations net of other amounts. For the nine months ended September 30, 2016, FFO excluding adjustments increased by $30.9 million or 13.5% to $260.1 million and by 5.6% to $1.67 on a per Unit basis compared to the same period of 2015. The increase in FFO excluding adjustments of $30.9 million was primarily due to an increase in NOI of $32.4 million, an increase in salaries and related costs attributed to leasing - which are added back to FFO - in the amount of $2.8 million, partially offset by an increase in general and administrative expense of $5.6 million. For the nine months ended September 30, 2016, AFFO increased by $29.6 million or 13.7% to $245.7 million and by 6.1% to $1.58 on a per Unit basis compared to the same period of 2015. The increase in AFFO of $29.6 million was primarily due to the increases described in FFO above for the nine months ended September 30, 2016, further offset by adjusted salaries and related costs attributed to leasing of $2.0 million. The non-IFRS measures used in this Press Release, including AFFO, FFO, NOI and payout ratio do not have any standardized meaning prescribed by International Financial Reporting Standards ("IFRS") and are therefore unlikely to be comparable to similar measures presented by other issuers. These non-IFRS measures are more fully defined and discussed in the 'Management Discussion and Analysis' (MD&A) of the Trust for the three and nine months ended September 30, 2016, available on Sedar at www.sedar.com. Full reports of the financial results of the Trust for the three and nine months ended September 30, 2016 are outlined in the unaudited interim condensed consolidated financial statements and the related MD&A of the Trust, which are available on SEDAR at www.sedar.com. In addition, supplemental information is available on the Trust's website at www.smartreit.com. SmartREIT will hold a conference call on Thursday, November 3, 2016 at 9:00 a.m. (ET). Participating on the call will be members of SmartREIT's senior management. Investors are invited to access the call by dialing 1-800-524-8950. You will be required to identify yourself and the organization on whose behalf you are participating. A recording of this call will be made available Thursday, November 3, 2016 beginning at 12:00 p.m. (ET) through to 12:00 p.m. (ET) on Thursday, November 10, 2016. To access the recording, please call 1-888-203-1112 and enter the Replay Passcode 3902820#. SmartREIT is one of Canada's largest real estate investment trusts with total assets in excess of $8.6 billion. It owns and manages in excess of 31 million square feet in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartREIT is a joint-venture partner in the Toronto and Montreal Premium Outlets with Simon Property Group. SmartREIT's core vision is to provide a value-oriented shopping experience in all forms to Canadian consumers and over time create high quality mixed use developments in urban settings. With SmartREIT's 2015 acquisition of SmartCentres, SmartREIT has transformed into a fully integrated real estate provider. SmartREIT and SmartCentres have had a long and successful alliance, helping to provide Canadians with value-focused retail shopping centres across the country. Now, our alliance has grown even stronger, the result is a fully integrated real estate provider with expertise in planning, development, leasing, operations, and construction - all under one roof. Our name is a reflection of our combined capabilities: SmartREIT. For more information on SmartREIT, visit www.smartreit.com. Certain statements in this Press Release are "forward-looking statements" that reflect management's expectations regarding the Trust's future growth, results of operations, performance and business prospects and opportunities as outlined under the headings "Business Overview and Strategic Direction" and "Outlook". More specifically, certain statements contained in this Press Release, including statements related to the Trust's maintenance of productive capacity, estimated future development plans and costs, view of term mortgage renewals including rates and upfinancing amounts, timing of future payments of obligations, intentions to secure additional financing and potential financing sources, and vacancy and leasing assumptions, and statements that contain words such as "could", "should", "can", "anticipate", "expect", "believe", "will", "may" and similar expressions and statements relating to matters that are not historical facts, constitute "forward-looking statements". These forward-looking statements are presented for the purpose of assisting the Trust's Unitholders and financial analysts in understanding the Trust's operating environment, and may not be appropriate for other purposes. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. However, such forward-looking statements involve significant risks and uncertainties, including those discussed under the heading "Risks and Uncertainties" and elsewhere in the Trust's Management's Discussion & Analysis for the three and nine months ended September 30, 2016 and under the heading "Risk Factors" in its Annual Information Form for the year ended December 31, 2015. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Although the forward-looking statements contained in this Press Release are based on what management believes to be reasonable assumptions, the Trust cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. These forward-looking statements are made as at the date of this Press Release and the Trust assumes no obligation to update or revise them to reflect new events or circumstances unless otherwise required by applicable securities legislation. The Toronto Stock Exchange neither approves nor disapproves of the contents of this Press Release.


News Article | February 16, 2017
Site: www.marketwired.com

TORONTO, ONTARIO--(Marketwired - Feb. 15, 2017) - Smart Real Estate Investment Trust ("SmartREIT" or "the Trust") (TSX:SRU.UN) is pleased to report positive results for the fourth quarter and year ended December 31, 2016. Highlights for the year include the following: Huw Thomas, CEO of SmartREIT said, "During 2016 we made significant steps in SmartREIT's transformation. Our core retail portfolio of over 31 million square feet will always be at the heart of our business, but leveraging the development platform we acquired in 2015 will represent our biggest opportunity for creating long term unitholder value and FFO growth. Between opportunities at significant urban properties such as the Vaughan Metropolitan Centre and intensifying our retail properties in multiple areas such as residential, self-storage and seniors housing, our future is very bright." (1) Includes the Trust's share of investments in associates During the three months ended December 31, 2016, $43.8 million of Earnouts and Developments including VMC were completed and transferred to income properties, which represents a decrease of $46.3 million or 51.4% compared to the same quarter in 2015. During the year ended December 31, 2016, $154.5 million of Developments and Earnouts including VMC were completed and transferred to income properties, which represents an increase of $21.0 million or 15.7% compared to 2015. On August 16, 2016, the Trust completed the acquisition of a property in Lethbridge, Alberta, from a third party, totalling 53,392 square feet of leasable area. The total purchase price of this acquisition was $15.3 million, which included $6.2 million paid in cash and the assumption of a mortgage of $9.2 million, adjusted for costs of acquisition and other working capital amounts. On October 25, 2016, the Trust completed the acquisition of a property in Pointe Claire, Quebec, from a third party, totalling 381,966 square feet of leasable area. The total purchase price of this acquisition was $63.4 million, which included $28.7 million paid in cash and the assumption of a mortgage of $34.5 million, adjusted for costs of acquisition and other working capital amounts. The following table summarizes SmartREIT's key financial highlights for the three months ended December 31 (including the Trust's share of investment in associate): Rentals from investment properties for the three months ended December 31, 2016, totalled $186.7 million, an $8.6 million or 4.8% increase over the same period last year. Net base rent increased by $0.5 million or 0.5%, due to rent increases from new and renewing tenants partially offset by higher vacancies, and income from acquisitions that closed during 2015 and 2016, as well as Earnouts and completed Developments that occurred during 2015 and 2016. Property operating cost recoveries increased by $6.2 million or 10.6% which included $2.4 million of prior year adjustments to common area maintenance ("CAM") and property tax provisions, and $3.8 million due to increases in recoverable costs attributable to the growth in the portfolio. In addition, miscellaneous revenue increased by $1.9 million primarily due to an increase in lease terminations over the prior year of $0.9 million. The Trust recovered 100.3% of total recoverable expenses during the three months ended December 31, 2016, compared to 96.9% in the same quarter last year. The increase was largely due to the prior year adjustments noted above, partially offset by higher vacancies. In comparison to the same quarter in 2015, NOI increased by $5.9 million or 5.2% in 2016, for the reasons noted above. For the three months ended December 31, 2016, FFO excluding adjustments increased by $6.5 million or 8.1% to $87.0 million and by 7.7% to $0.56 on a per Unit basis compared to the same quarter of 2015. The $6.5 million increase in FFO excluding adjustments was primarily due to an increase in NOI of $5.9 million and a decrease in general and administrative expense of $0.6 million, and partially offset by a decrease in salaries and related costs attributed to leasing activities - which are added back to FFO - in the amount of $0.7 million. For the three months ended December 31, 2016, AFFO increased by $3.5 million or 4.6% to $80.3 million and by 2.0% to $0.51 on a per Unit basis compared to the same quarter of 2015. The increase in AFFO of $3.5 million was primarily due to the changes described in FFO above for the three months ended December 31, 2016, further increased by a decrease in sustaining leasing costs of $1.7 million, partially offset by an increase in sustaining capital expenditures of $4.9 million, which was primarily due to major roof repairs, parking lot maintenance and tenant improvements for replacement tenants. The AFFO payout ratio for the three months ended December 31, 2016 increased by 0.5% to 83.1% compared to the same quarter last year. The primary reason for the increase in the AFFO payout ratio is attributed to the increase in sustaining capital expenditures of $4.9 million. The following table summarizes SmartREIT's key financial highlights for the year ended December 31 (including the Trust's share of investment in associate): Rentals from investment properties for the year ended December 31, 2016, totalled $727.8 million, a $57.4 million or 8.6% increase over the year ended December 31, 2015. Net base rent increased by $27.0 million or 6.1%, primarily due to rent increases from new and renewing tenants partially offset by higher vacancies, and income from acquisitions that closed during 2015 and 2016, as well as Earnouts and completed Developments that occurred during 2015 and 2016. Property operating cost recoveries increased by $17.7 million or 8.1% primarily due to the related increases in recoverable costs with the growth of the Trust's portfolio. In addition, the increase to miscellaneous revenue for the year ended December 31, 2016 was primarily due to $9.9 million settlement proceeds associated with the Target lease terminations net of other amounts. The Trust recovered 97.6% of total recoverable expenses during the year ended December 31, 2016, compared to 98.3% last year. Non-recovery of most of the remaining costs resulted from higher vacancies, fixed recovery rates for some tenants and restrictions contained in certain anchor tenant leases. In comparison to the year ended December 31, 2015, NOI increased by $38.4 million or 8.8% in 2016, primarily as a result of the expansion to the Trust's portfolio mainly due to the Transaction that closed on May 28, 2015 (2015 results reflect seven months versus a full 12 month period in 2016) resulting in an increase in NOI of $24.9 million and an increase in miscellaneous revenue of $12.8 million, which was primarily attributable to the $9.9 million settlement proceeds associated with the Target lease terminations, net of other amounts. For the year ended December 31, 2016, FFO excluding adjustments increased by $37.4 million or 12.1% to $347.0 million and by 6.2% to $2.23 on a per Unit basis compared to 2015. The increase in FFO excluding adjustments of $37.4 million was primarily due to an increase in NOI of $38.4 million and an increase in salaries and related costs attributed to leasing activities - which are added back to FFO - in the amount of $2.3 million, partially offset by an increase in general and administrative expense of $5.1 million. For the year ended December 31, 2016, AFFO increased by $33.1 million or 11.3% to $326.0 million and by 5.5% to $2.10 on a per Unit basis compared to the same period of 2015. The increase in AFFO of $33.1 million was primarily due to the changes described in FFO above for the year ended December 31, 2016, offset by an increase in leasing costs of $2.9 million and an increase in capital expenditures of $2.1 million. For the year ended December 31, 2016, the AFFO payout ratio decreased by 1.3% to 79.8% compared to last year. The primary reason for the decrease in the AFFO payout ratio is attributed to all of the movements noted above, but in particular, the increase in AFFO resulting from the $9.9 million settlement proceeds associated with the Target lease terminations net of other amounts recorded during the year ended December 31, 2016. The non-IFRS measures used in this Press Release, including AFFO, FFO, NOI and payout ratio do not have any standardized meaning prescribed by International Financial Reporting Standards ("IFRS") and are therefore unlikely to be comparable to similar measures presented by other issuers. These non-IFRS measures are more fully defined and discussed in the 'Management Discussion and Analysis' (MD&A) of the Trust for the year ended December 31, 2016, available on SEDAR at www.sedar.com. Full reports of the financial results of the Trust for the year ended December 31, 2016 are outlined in the audited consolidated financial statements and the related MD&A of the Trust, which are available on SEDAR at www.sedar.com. In addition, supplemental information is available on the Trust's website at www.smartreit.com. SmartREIT will hold a conference call on Thursday, February 16, 2017 at 9:00 a.m. (ET). Participating on the call will be members of SmartREIT's senior management. Investors are invited to access the call by dialing 1-800-274-0251. You will be required to identify yourself and the organization on whose behalf you are participating. A recording of this call will be made available Thursday, February 16, 2017 beginning at 12:00 p.m. (ET) through to 12:00 p.m. (ET) on Thursday, February 23, 2017. To access the recording, please call 1-888-203-1112 and enter the Replay Passcode 9639106#. SmartREIT is one of Canada's largest real estate investment trusts with total assets in excess of $8.7 billion. It owns and manages 32 million square feet in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartREIT is a joint-venture partner in the Toronto and Montreal Premium Outlets with Simon Property Group. SmartREIT is now expanding the breadth of its portfolio to include residential (condominium and rental), office, and self-storage, either on its large urban properties such as the Vaughan Metropolitan Centre or as an adjunct to its existing shopping centres. SmartREIT's core vision is to provide a value-oriented shopping experience in all forms to Canadian consumers and to create high quality mixed use developments in urban settings. With SmartREIT's 2015 acquisition of SmartCentres, SmartREIT has transformed into a fully integrated real estate provider. SmartREIT and SmartCentres have had a long and successful alliance, helping to provide Canadians with value-focused retail shopping centres across the country. Now, the alliance has grown even stronger, the result is a fully integrated real estate provider with expertise in planning, development, leasing, operations and construction - all under one roof. For more information on SmartREIT, visit www.smartreit.com. Certain statements in this Press Release are "forward-looking statements" that reflect management's expectations regarding the Trust's future growth, results of operations, performance and business prospects and opportunities as outlined under the headings "Business Overview and Strategic Direction" and "Outlook". More specifically, certain statements contained in this Press Release, including statements related to the Trust's maintenance of productive capacity, estimated future development plans and costs, view of term mortgage renewals including rates and upfinancing amounts, timing of future payments of obligations, intentions to secure additional financing and potential financing sources, and vacancy and leasing assumptions, and statements that contain words such as "could", "should", "can", "anticipate", "expect", "believe", "will", "may" and similar expressions and statements relating to matters that are not historical facts, constitute "forward-looking statements". These forward-looking statements are presented for the purpose of assisting the Trust's Unitholders and financial analysts in understanding the Trust's operating environment, and may not be appropriate for other purposes. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. However, such forward-looking statements involve significant risks and uncertainties, including those discussed under the heading "Risks and Uncertainties" and elsewhere in the Trust's Management's Discussion & Analysis for the year ended December 31, 2016 and under the heading "Risk Factors" in its Annual Information Form for the year ended December 31, 2016. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Although the forward-looking statements contained in this Press Release are based on what management believes to be reasonable assumptions, the Trust cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. These forward-looking statements are made as at the date of this Press Release and the Trust assumes no obligation to update or revise them to reflect new events or circumstances unless otherwise required by applicable securities legislation. The Toronto Stock Exchange neither approves nor disapproves of the contents of this Press Release.


News Article | February 17, 2017
Site: www.marketwired.com

TORONTO, ONTARIO--(Marketwired - Feb. 17, 2017) - Smart Real Estate Investment Trust (TSX:SRU.UN) announced that the trustees of SmartREIT have declared a distribution for the month of February 2017 of CDN $0.14167 per trust unit, representing CDN $1.70 per unit on an annualized basis. Payment will be made on March 15, 2017 to unitholders of record on February 28, 2017. SmartREIT offers Canadian unitholders the option to participate in a Distribution Reinvestment Plan ("DRIP"), a convenient and economical opportunity to automatically reinvest monthly distributions in additional units without the payment of any commissions, service charges or brokerage fees, at a price equal to 97% of the average TSX market price over the 10 business days preceding the monthly distribution date. Additional information regarding the DRIP is available at http://www.smartreit.com/investing/distributions/. SmartREIT is one of Canada's largest real estate investment trusts with total assets in excess of $8.7 billion. It owns and manages 32 million square feet in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartREIT is a joint-venture partner in the Toronto and Montreal Premium Outlets with Simon Property Group. SmartREIT is now expanding the breadth of its portfolio to include residential (condominium and rental), office, and self-storage, either on its large urban properties such as the Vaughan Metropolitan Centre or as an adjunct to its existing shopping centres. SmartREIT's core vision is to provide a value-oriented shopping experience in all forms to Canadian consumers and to create high quality mixed use developments in urban settings. With SmartREIT's 2015 acquisition of SmartCentres, SmartREIT has transformed into a fully integrated real estate provider. SmartREIT and SmartCentres have had a long and successful alliance, helping to provide Canadians with value-focused retail shopping centres across the country. Now, the alliance has grown even stronger, the result is a fully integrated real estate provider with expertise in planning, development, leasing, operations and construction - all under one roof. For more information on SmartREIT, visit www.smartreit.com.


TORONTO, ONTARIO--(Marketwired - Dec. 13, 2016) - Smart Real Estate Investment Trust (TSX:SRU.UN) announced today that it has entered into a letter of intent for a 50/50 joint-venture with Jadco Corporation, a Montreal area based residential developer, to build two 15-storey towers on a portion of SmartREIT's shopping centre lands at the corner of boul. St-Martin and boul. Daniel-Johnson in Laval. The two towers will contain a total of 330 units connected to a common podium structure that will contain streetfront retail units as well as service and leisure amenities for the residents. Total investment will exceed $75 million and, subject to normal approvals, construction will begin in spring 2017 with occupancy of the first tower in summer 2018. Under Jadco's "Équinoxe Collection" banner, these upscale rental residences will offer superior tenant amenities, with underground parking, spacious floor layouts, designer interiors and quality materials in a vibrant, urban setting where entertainment, commercial and residential addresses come together. This follows SmartREIT's announcement last week concerning its first high-rise residential development in the Vaughan Metropolitan Centre and is part of SmartREIT's overall strategic plan to maximize the value of its major-market urban centres by introducing mixed-use development that builds on superior access to public transit and the regional highway network. "Jadco is proud to partner with SmartREIT in the development of this Équinoxe project which is ideally located in a vibrant, well established community with excellent access to public transit, retail and civic amenities," said André Doudak, President of Jadco Corporation. "We are very pleased to continue our urban development program with this high quality project in a strong rental market," noted Huw Thomas, Chief Executive Officer of SmartREIT. "With mixed-use developments such as SmartCentres Place at the Vaughan Metropolitan Centre, StudioCentre, Westside Mall and Highway 7 and Highway 400, all in the Greater Toronto area and now this project in the Montreal area, we are building an extensive pipeline of mixed-use projects to provide long term value for our unitholders," added Thomas. SmartREIT is one of Canada's largest real estate investment trusts with total assets in excess of $8.6 billion. It owns and manages in excess of 31 million square feet in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartREIT is a joint-venture partner in the Toronto and Montreal Premium Outlets with Simon Property Group. SmartREIT's core vision is to provide a value-oriented shopping experience in all forms to Canadian consumers and to create high quality mixed use developments in urban settings. With SmartREIT's 2015 acquisition of SmartCentres, SmartREIT has transformed into a fully integrated real estate provider. SmartREIT and SmartCentres have had a long and successful alliance, helping to provide Canadians with value-focused retail shopping centres across the country. Now, the alliance has grown even stronger, the result is a fully integrated real estate provider with expertise in planning, development, leasing, operations and construction - all under one roof. For more information on SmartREIT, visit www.smartreit.com. Jadco Corporation is a well reputed family-owned business which has gained a strong foothold in the real estate sector in the Greater Montreal Area. Jadco's strengths lie in its commitment to excellence in building exceptional living and mixed-used environments. Its diversified portfolio is comprised of luxury residential, upscale rental and mixed-used projects such as Paton1, Quintessence and Équinoxe. For more information on Jadco, visit www.jadcoresidences.com. Certain statements in this Press Release are "forward-looking statements" that reflect SmartREIT's and Jadco's expectations regarding future growth and business prospects. More specifically, certain statements in this Press Release including statements related to the development of this project and statements that contain words such as "expect", "will", and similar expressions and statements relating to matters that are not historical facts and constitute "forward-looking statements". Such forward-looking statements reflect SmartREIT's and Jadco's current beliefs and are based on information currently available to SmartREIT and Jadco. However, such forward-looking statements involve risks and uncertainties and a number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Although the forward-looking statements contained in this Press Release are based on what SmartREIT and Jadco believe to be reasonable assumptions, SmartREIT cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. These forward-looking statements are made as at the date of this Press Release and SmartREIT assumes no obligation to update or revise them to reflect new events or circumstances unless otherwise required by applicable securities legislation.


TORONTO, ONTARIO--(Marketwired - Oct. 25, 2016) - Smart Real Estate Investment Trust ("SmartREIT") (TSX:SRU.UN) is pleased to announce its acquisition of a mixed-use retail-office centre in the heart of Pointe Claire, Quebec. The mixed-use centre comprises a new Walmart Supercentre, a Home Depot and a number of national retailers such as Dollarama, L'Equipeur (a Canadian Tire banner), and TD Canada Trust, along with a number of food and service offerings. The 382,000 square foot mixed-use centre is 99% leased and incorporates a fully leased 62,000 square foot six-storey office building. "The high quality tenant base and the centre's dominance in its urban market fits very well with SmartREIT's existing retail portfolio," noted Huw Thomas, CEO of SmartREIT. "The total purchase price of approximately $62 million will be funded by existing cash and the assumption of an existing first mortgage providing solid FFO accretion to the REIT," Thomas added. The City of Pointe Claire, located on Montreal's West Island, has a thriving population base with strong demographics and household income. "We have the potential to add additional density to this centre which fits perfectly with our strategy to intensify our portfolio with additional retail as well as residential, seniors' housing, and even storage in selected locations, expanding each centre's offering to meet the needs of its community. By leveraging the capabilities of our extensive development platform, we are now working on adding value to a number of our existing retail sites as well as developing major urban mixed-use projects such as the Vaughan Metropolitan Centre," further added Thomas. SmartREIT is one of Canada's largest real estate investment trusts with total assets in excess of $8.6 billion. It owns and manages in excess of 31 million square feet in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartREIT is a joint-venture partner in the Toronto and Montreal Premium Outlets with Simon Property Group. SmartREIT's core vision is to provide a value-oriented shopping experience in all forms to Canadian consumers and to create high quality mixed use developments in urban settings. With SmartREIT's 2015 acquisition of SmartCentres, SmartREIT has transformed into a fully integrated real estate provider. SmartREIT and SmartCentres have had a long and successful alliance, helping to provide Canadians with value-focused retail shopping centres across the country. Now, the alliance has grown even stronger, the result is a fully integrated real estate provider with expertise in planning, development, leasing, operations and construction - all under one roof. For more information on SmartREIT, visit www.smartreit.com.


News Article | January 20, 2016
Site: www.nature.com

The data set analysed in this paper was culled from that described in our previous paper analysing correlations between amino acid sequence and protein expression/solubility levels39. In brief, proteins were selected from a wide variety of source organisms based on structural uniqueness, meaning that no sequence with greater than 30% amino acid identity had an experimentally determined structure deposited into the Protein Data Bank at the time of selection. We restricted the data set compared to that used in our earlier paper to contain only non-redundant proteins encoded by genes that do not contain any codons affected by an alternative translation table in the source organism and that were expressed with a C-terminal LEHHHHHH tag. Homologous sequences were eliminated using an iterative procedure that reduced the level of amino acid sequence identity between any pair to less than 60%, which results in a lower level of nucleic acid sequence identity. At each step, all pairs of proteins sharing at least 60% identical amino acid sequence identity were transitively grouped together into a set, and the shortest sequence was eliminated from each set before reinitiating the same set-assignment procedure on all remaining proteins. The resulting data set included 6,348 genes from 171 organisms, as detailed in the cladogram in Extended Data Fig. 1 and Supplementary Data File 2. It contained 95 endogenous E. coli genes, including ycaQ that was examined in our follow-up biochemical experiments (Extended Data Fig. 6), and 6,253 genes from heterologous sources, including 47 from mammals, 809 from archaeabacteria, and the remainder from 151 different eubacterial organisms. The methods used in our large-scale protein expression experiments were described in detail previously38, 51, 52, and they are similar to those described below for evaluation of protein expression in vivo except that induction was performed in 0.5-ml cultures in 96-well plates. In brief, native genes for the 6,348 proteins were cloned with a C-terminal LEHHHHHH affinity tag under the control of the bacteriophage T7 promoter in pET21, a 5.4-kb pBR322-derived plasmid harbouring an ampicillin resistance marker38. Protein expression38 was induced overnight at 17 °C in E. coli strain BL21(DE3) growing in chemically defined medium containing glucose as a carbon source. The expression strain also contained pMGK (GenBank accession number KT203761), a 5.4-kb pACYC177-derived plasmid that harbours a kanamycin-resistant gene, a single copy of the lacI gene, and a single copy of the argU gene encoding the tRNA cognate to the rare AGA codon for Arg. As previously described, we scored the protein expression level from two transformants of the same plasmid on an integer scale from 0 (no expression) to 5 (highest expression), based on visual inspection of whole-cell lysates on Coomassie-blue-stained SDS–PAGE gels. There is an unmistakable difference between the 0 and 5 expression scores used for most of the analyses reported in this paper. A score of 5 indicates the target protein was the most abundant protein expressed in the cell, while a score of 0 indicates it was undetectable against the background of cellular proteins. The reproducibility of the integer scores in our large-scale data set was excellent, as analysed in detail previously39. There was no difference between all measurements for over 70% of the genes and a maximum difference of one unit between all measurements for over 80% of the genes. When replicates gave different scores, the maximum score was used, because most sources of experimental error tend to reduce expression score, and bell-weather analyses reported in our previously published paper39 showed a small increase in the significance of correlations when using maximum rather than mean score. Our binary multi-parameter logistic regression model gives θ, the logarithm of the ratio of the probabilities of obtaining the highest level of protein expression (P ) versus none (P ) from an mRNA sequence in the large-scale data set, as a linear function of generalized variables : The probability of obtaining the highest level (E = 5) versus no (E = 0) protein expression from a given sequence is therefore given by: Note that, to capture nonlinear relationships between mRNA sequence parameters and outcome, the generalized variables x can represent mathematical functions of mRNA sequence parameters as well as those parameters themselves. We used the R statistics program53 to compute the most probable values of the model parameters (A, β ). Logistic-regression slopes β  > 0 indicate that the probability of high expression increases as the associated variable increases in numerical value. (Note that, because ΔG increases in numerical value as folding stability decreases, a positive slope for free-energy terms indicates an increase in the probability of high expression as predicted folding stability decreases, while a negative slope for these terms indicates an increase in the probability of high expression as predicted folding stability increases.) Our final model, which we call model M (Extended Data Table 1a and Fig. 4), is given in the main text, and the codon slopes β from this model are depicted in Fig. 3a. In principle, the probability of high protein expression can be increased by manipulating mRNA sequence properties to maximize the value of θ and thus π in the equations above using the parameters (A, β ) from model M. Inclusion of parameters was guided by the likelihood ratio test in conjunction with the AIC54, a standard measure of whether an improvement in model quality exceeds that expected at random from increasing the number of degrees of freedom in the model. The likelihood ratio χ2 (LR χ2) is asymptotic to the χ2 distribution and defined as the reduction in the deviance D of the observed data from the predictions of the model compared to the null model containing just the constant term A (in the first equation above), while the AIC is given by the LR χ2 minus two times the number of degrees of freedom. The deviance is defined as: This sum is conducted over the n = 3,727 proteins giving expression scores of 5 or 0 among the 6,348 in the large-scale protein expression data set, and the logistic variable E assumes values of 1 or 0 if protein ‘j’ is expressed at the E = 5 or E = 0 levels, respectively. The variable π  = π(θ ) gives the predicted probability of obtaining expression of protein ‘j’ at the E = 5 rather than E = 0 level according to the equations given above describing the multi-parameter binary logistic model. For the data set analysed in this paper, the deviance has values of 5,154 and 3,952 for the null model and our final model M, respectively (Extended Data Table 1a). In addition to using the AIC, we ensured that the final model is not over-fit via bootstrapping with replacement 1,000 times using the RMS package55. This validation procedure is considered more robust than splitting the data set into training and test sets, which requires very careful selection of the test set. The sequence parameters explored in the course of model development (Extended Data Table 1 and additional data not shown) included the length of the gene, the individual codon frequencies in-frame or out-of-frame in the entire gene, the individual codon frequencies in-frame calculated separately in the head and the tail or in the first and second halves of the coding sequence, di-codon frequencies, the statistical entropy of the codon sequence, the codon and amino acid repetition rates (defined below), the frequencies of the nucleotide bases at each codon position in the entire gene and in defined windows within its sequence, and a variety of predicted mRNA-folding energy parameters including those shown in Fig. 1 and Extended Data Fig. 2, which were evaluated individually and as statistical aggregates. The codon repetition rate r and amino acid repetition rate r are defined as < d −1>, where is the distance at every position in the sequence to the next occurrence of the same species moving towards the 3′ end of the gene. The value of d −1 is set to zero if the codon or amino acid does not occur again, so the value of r for the protein sequence LRPRL is the average of (1/4, 1/2, 0, 0, 0), which is 0.15. The sequence of the C-terminal LEHHHHHH affinity tag was omitted from all computational analyses to avoid biasing statistics on its constituent amino acids and codons. Because this sequence is present in every gene included in our large-scale protein expression data set, it cannot directly influence outcome on its own and can only have an influence via differential interaction with other sequence features. No evidence of such interactions was detected in bell-weather analyses including the tag sequence, so it was omitted in the final analyses reported in this paper. The number of degrees of freedom for codon variables is one fewer than the number of non-stop codons because their frequencies f in a sequence must sum to 1 (that is, ). Therefore, for the analyses shown in Figs 3 and 4, we removed ATG, effectively constraining its slope to be zero (that is, β  = 0) and its contribution to the model to be absorbed into the constant A. The inclusion of mean codon-slope variables s and s in model M uniformly reduces the individual codon slopes β to ~86% of their values when no mean-slope terms are included in the model, reflecting the disproportionate influence of codons near the 5′ terminus compared to those in the rest of the gene (Extended Data Fig. 6). We tested expanded codons models including the next base or the previous base in addition to the in-frame codon, but these were rejected based on the AIC and bootstrap validation criteria described above. We also examined introducing additional variables into model M (Extended Data Table 1b and additional data not shown). Adding the mean value of the predicted free energy of mRNA folding in the tail does not significantly improve the model, even though unstable folding in the tail correlates with reduced protein expression (Fig. 1g, h). Therefore, this correlation as well as those of the overall A, T, G and C content in the gene (Extended Data Fig. 2a–e) are captured more effectively by the cross-correlated sequence parameters (Extended Data Figs 3 and 4) that are included in the model, suggesting that these other parameters are more influential mechanistically. Adding the mean slope of codons 2–6 does not produce a statistically significant improvement, and using this term instead of the base-composition terms in this region yields inferior results, consistent with the analyses shown in Extended Data Fig. 5. Finally, adding the frequency of the Shine–Dalgarno consensus AGGA in any frame (f in Extended Data Fig. 2i, j and Extended Data Table 1b) fails to produce a statistically significant improvement. We also used the Bindigo program (http://rna.williams.edu/) to compute the binding energy of all hexamer sequences in a gene with the anti-Shine–Dalgarno sequence CACCUCCU, and neither the minimum nor the average value of the predicted free energy of hybridization to the anti-Shine–Dalgarno sequence has any correlation with protein expression level our large-scale data set (Extended Data Table 1b). In the 6AA method, codons for six amino acids were changed to the single codon specified in Extended Data Table 2, which has a larger slope than that of any synonymous codon in our single-parameter binary logistic regression analyses (dark grey symbols in Fig. 3a). Although no explicit free energy optimization was performed with the 6AA method, it produced genes in which the predicted free energies of mRNA folding were more favourable than those in the naturally occurring starting sequences. In the 31C-FO method, predicted mRNA-folding energy was optimized while selecting codons from the 31 listed in Extended Data Table 2, which have slopes greater than zero in our single-parameter binary logistic regression analyses (dark grey symbols in Fig. 3a). The predicted free energy of folding of the head plus 5′-UTR (ΔG ) was maximized numerically (that is, to yield the least stable folding), while the predicted free energy of the folding in the tail was optimized to be near −10 kcal mol−1 in windows of 48 nucleotides. The 31C-FD used the same set of codons to produce genes in which the predicted free energy of folding was minimized numerically (that is, to yield the most stable folding). The E. coli strain DH5α was used for cloning. Expression experiments used E. coli strain BL21(DE3) pMGK (ref. 38). Ampicillin was added at 100 μg ml−1 for cultures harbouring pET21-based plasmids. Kanamycin was added at 25 μg ml−1 to maintain the pMGK plasmid. Bacterial growth for protein expression and northern blot experiments employing pET21-based plasmids was performed using the same medium and conditions that were used to generate our high-throughput protein-expression data set38 (that is, MJ9 minimum medium56 with 250 r.p.m. agitation at 37 °C before induction at 17 °C). The pET-21 clones of the genes APE_0230.1 (Aeropyrum pernix K1), RSP_2139 from (Rhodobacter sphaeroides), SRU_1983 (Salinibacter ruber), SCO1897 (Streptomyces coelicolor) and ycaQ (E. coli) were obtained from the protein-production laboratory of the Northeast Structural Genomics Consortium (http://www.NESG.org) at Rutgers University (NESG targets Xr92, RhR13, SrR141, RR162 and ER449, respectively). The DNAs encoding the 6AA and 31C-FO /31C-FO variants of the genes were synthesized by GenScript. The head variants 31C-FO and 31C-FO were generated by PCR amplification using long forward primers containing an NcoI restriction site, the new head sequence, and a sequence complementary to the downstream region in the target gene. A plasmid containing the starting construct was used as DNA template for PCR amplification using the corresponding long forward primers and a reverse primer hybridizing at the 3′ end of the target gene including the XhoI restriction site. The resulting PCR products were cloned using the In-Fusion kit (Clontech) into a pET-21 derivative linearized with NcoI and XhoI. The full protein-coding sequence in every plasmid was verified by DNA sequencing (Genewiz and Eton Bioscience) and corrected when necessary using the QuikChange II Site-Directed Mutagenesis kit (Agilent Technologies). The wild-type and 31C-FO /31C-FO (31C-FO / ) genes for SRU_1983, APE_0230.1 and E. coli YcaQ were re-cloned into a pBAD expression plasmid (Life Technologies) with a C-terminal hexa-histidine tag for transcription by the native E. coli RNA polymerase under control of an arabinose-inducible promoter; these experiments yielded similar results (Extended Data Fig. 6e, f) to those shown for the same genes under T7 polymerase control in a pET plasmid (Fig. 5 and Extended Data Fig. 6a–d). DNA sequences of the final constructs are provided in Supplementary Data File 3. Overnight cell growth was measured by transferring 200 μl of each induced culture to a 96-well sterile plate (Greiner Bio-One) and covering each well with 50 μl of sterile paraffin oil. A negative control non-induced sample was loaded for each wild-type target. Duplicate wells were measured for each sample. Plates were loaded into a platereader (Biotek Synergy) at room temperature and shaken for 30 s. An initial A   reading was taken and then followed by 30 min of shaking until the next absorbance reading. Readings were repeated at 30 min intervals during 9 h of cell growth. Starting cultures from a single colony were inoculated into 6 ml of LB media containing 100 μg ml−1 of ampicillin and 30 μg ml−1 kanamycin. Cultures were grown at 37 °C until highly turbid (4–6 h), then 40 μl was used to inoculate 2 ml of MJ9 chemically defined medium56. This MJ9 pre-culture was grown overnight at 37 °C. The next day, A readings were taken of a 1:10 dilution of the turbid MJ9 pre-culture. This reading was used to calculate the volume of pre-culture necessary to normalize all cell samples to a starting culture density of 0.1 A in 6 ml of fresh medium. The reinoculated culture was grown at 37 °C until A reached 0.5–0.7. Cells were then induced with 1 mM IPTG, with one duplicate tube for each wild-type gene not induced to serve as a negative control. After induction, 200 μl ×2 of each culture was removed and placed into a sterile 96-well plate to monitor cell growth rate (see above). The remaining 5.6 ml of induced samples were then transferred to 17 °C and shaken overnight. The next day, samples were removed from the shaker, placed on ice, and final A was measured. Cells were centrifuged in 14-ml round-bottom Falcon tubes at 5,300g for 10 min, and the pellets were resuspended in 1.2 ml of lysis buffer (30 mM NaCl, 10 mM 2-mercaptoethanol, 50 mM NaH PO , pH 8.0) and then transferred to 1.5 ml Eppendorf tubes on ice. Lysis was accomplished by sonication on ice, using a 40 V setting (~12 W pulse) and pulsing for 1 s followed by a 2 s rest, for a total of 40 pulses. Then 120 μl of each lysed culture was mixed with 40 μl of 4× Laemmli buffer, and samples were analyzed using SDS–PAGE (Bio-Rad, Ready Gel, 15% Tris-HCl), with Bio-Rad Precision Plus All Blue Standard markers. Final A measurements were used to calculate the load volume for each individual sample, normalizing all samples to the density of the least turbid of each unique target. We verified the integrity of the plasmids after growth and induction by DNA sequencing (Genewiz and Eton Bioscience). Every result was confirmed by repeating the experiment. Conducting experiments at physiological protein expression levels (Extended Data Fig. 6e, f) required considerable changes in methods compared to the experiments conducted in pET vectors that were used to generate our large-scale protein-expression data set and the data shown in Fig. 5 and Extended Data Figs 6a, b and 7. Because mRNA expression from IPTG-controlled promoters tends to occur in an all-or-none fashion60, 61, it is not practical to control the level of mRNA expressed from pET vectors. Therefore, we re-cloned three pairs of synonymous native and codon-optimized 31C-FO / genes with C-terminal hexahistidine tags under control of the arabinose-inducible promoter in a pBAD vector62, which provides a more gradual increase in expression as arabinose concentration is raised. This promoter drives transcription using the endogenous E. coli RNA polymerase rather than T7 RNA polymerase, which is employed by the pET vectors used for all other expression experiments reported in this paper. Because transcription from the arabinose promoter is repressed by glucose, which is the carbon source in the chemically defined MJ9 medium used for our pET experiments, we instead used LB as the growth medium for pBAD experiments, which were conducting in BL21 pMGK cells (that is, an isogenic E. coli strain except for the removal of the λ(DE3) prophage carrying the gene for T7 RNA polymerase). Furthermore, because the arabinose inducer can be depleted during long growth periods, we evaluated expression after relatively short 1–4 h induction times during log-phase growth rather than after overnight growth into stationary phase, which was used for our pET experiments. We also changed the growth temperature during induction from 17 °C for pET experiments to 37 °C for pBAD experiments. Non-induced controls were grown in medium containing 0.4% glucose (+Glc). When the A of the cultures reached 0.6, transcription of the target genes was induced for 1 h using final arabinose concentrations of 0.001% (w/v) for APE_0230.1 and 0.01% (w/v) for SRU_1983 and E. coli YcaQ (+Ara). The pET21 plasmids containing optimized or unoptimized inserts were digested with BlpI, phenol–chloroform purified, and concentrated by ethanol precipitation. From the digested samples, 2 μg was added to the RiboMax kit (Promega), and in vitro transcription with bacteriophage T7 RNA polymerase was conducted according to the manufacturer’s protocol. Upon completion of the reaction, samples were treated with DNase (Promega), isopropanol precipitated, and resuspended in RNA Storage Solution (Ambion). Transcript size and purity were verified by agarose gel electrophoresis with ethidium bromide staining. For kinetic analyses, 20-μl reactions with T7 polymerase were assembled and started by addition of 1 μg of template DNA. A 4.5-μl sample of each reaction was removed at 0-, 5-, 10- and 30-min time points for analysis on denaturing formaldehyde-agarose gels. Each experiment was conducted at least twice. In vitro translation assays of the purified mRNAs were performed with the PURExpress system (New England Biolabs) using l-[35S]methionine premium (PerkinElmer). Each 25-μl reaction contained 10 μl of solution A, 7.5 μl of solution B and 2 μl of [35S]methionine (10 μCi). The reactions were started by adding 2 μl of purified mRNA (4 μg  μl−1) and incubating at 37 °C. Aliquots of 5 μl were withdrawn from the reactions at 15, 30, 60 and 90 min, and translation was stopped by adding 10 μl of 2× Laemmli and heating for 2 min at 60 °C. Then 14 μl of each aliquot was run on a 4–20% SDS–PAGE gel (Bio-Rad) with Bio-Rad Precision Plus All Blue Standard markers. The gel was dried on Whatman filter paper and subjected to autoradiography. Each reaction was repeated at least twice. The probe was designed as the reverse complement of the 71-nucleotides of the 5′-UTR of the pET21 vector, and it was synthesized by Eurofins. The probe was labelled with biotin using the BrightStar Psoralen-Biotin Nonisotopic Labelling Kit. BL21(DE3) pMGK E. coli containing the plasmid of interest were grown overnight in LB at 37 °C with shaking. Cultures were diluted 1:50 into MJ9 media and grown overnight at 37 °C with shaking. The next day, the cultures were diluted to an A of 0.15 in MJ9 media and allowed to grow to an A of 0.6–0.7 before induction with 1 mM IPTG. Samples were taken at the indicated time points and RNAs were stabilized in two volumes of RNAProtect Bacteria Reagent. After pelleting, samples were lysozyme digested (15 mg ml−1) for 15 min, and RNAs were purified using the Direct-zol RNA Miniprep Kit and TRI-Reagent. Approximately 1–2 μg of total RNA per sample was separated on a 1.2% formaldahyde-agarose gel in MOPS-formaldahyde buffer. RNA integrity was verified by ethidium bromide staining. RNA was then transferred to a positively charged nylon membrane using downward capillary transfer with an alkaline transfer buffer (1 M NaCl, 10 mM NaOH, pH 9) for 2 h at room temperature. RNAs were crosslinked to the membrane using 1,200 μJ ultraviolet irradiation (Stratalinker). Membranes were pre-hybridized in Ultrahyb hybridization buffer for 1 h at 42 °C in a hybridization oven. Heat-denatured, biotin-labelled probe was then added to 10–20 pM final concentration and hybridized overnight at 42 °C. Membranes were washed twice in buffer (0.2× SSC, 0.5% SDS), and probe signal was detected using the BrightStar BioDetect kit, as per protocol, via exposure to film. Each northern blot experiment was repeated at least twice. E. coli MG1655 cells were cultured in M9 0.4% glucose minimum media to a final A of 1.0. Cells were treated with RNA Protect Bacteria Reagent (Qiagen), and RNA extracted using the RNeasy Mini Kit (Qiagen) was reverse-transcribed using SuperScript II Reverse Transcriptase (Invitrogen) followed by treatment with RNaseH (Invitrogen) and RNaseA (EpiCentre). The resulting cDNA preparation was purified using the MinElute Purification Kit (Qiagen) and then fragmented into 50–200-bp fragments using DNaseI (EpiCentre). Biotinylation was performed with Terminal Deoxynucleotidyl Transferase (New England Biolabs) and Biotin-N6-ddATP (Enzo Life Sciences). Biotinylated cDNA was hybridized on Affymetrix E. coli 2.0 arrays by the Gene Expression Center at the University of Wisconsin Biotechnology Center. Raw data (.cel) files were analysed using the RMA (Robust Multi-chip Average) algorithm in the Affymetrix Expression Console. All predicted proteins in the version of the genome in the Ecocyc database57 were analysed using the programs LipoP58 and TMHMM59, and those without a predicted transmembrane helix or a predicted signal peptide were classified as cytoplasmic proteins and included in the analyses in Fig. 6. We analysed the data sets published previously44 in which RNA-seq was used to quantify global mRNA levels as a function of time after treatment of either exponential or early stationary phase cultures with the transcription-initiation inhibitor rifampicin. To avoid potential complications arising from the encoding of multiple proteins in polycistronic transcripts, we limited our analyses to monocistronic transcripts, which constituted 76% and 82% of the mRNAs for which lifetimes were measured in exponential and stationary phase, respectively. The analyses presented in Fig. 6c, d were also limited to predicted cytoplasmic proteins to avoid possible biases from systematically lower expression of integral membrane proteins and secreted proteins. The set of genes for which Chen et al.44 were able to measure lifetime is strongly biased towards more abundant mRNAs, and the measured lifetimes in both the exponential and stationary phase data sets are also strongly correlated with steady-state concentrations (data not shown).


News Article | November 1, 2016
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DuPont™ MECS® DynaWave® technology, licensed by MECS, Inc., a wholly owned subsidiary of DuPont, has been selected by a major international oil and gas services provider for the installation of three custom-engineered scrubbing systems for sulphur dioxide removal at PRPC Refinery & Cracker Sdn. Bhd, a subsidiary of PETRONAS, the Malaysian National Oil Company. The DynaWave® units are set to be delivered to the company’s RAPID Project refinery in Pengerang, Southern Johor, Malaysia, before the end of the year for subsequent fitting. “Each of the specially engineered DynaWave® scrubbers will treat the off-gas of one Sulphur Recovery Unit (SRU) and its dedicated Tail Gas Treatment Unit (TGTU),” said Angus Yip, MECS sales manager for South East Asia & Australia - New Zealand. “PRPC requires SO2 emission levels to be lower than 150mg/DNm3 which DynaWave® technology can guarantee under any given set of upstream conditions. Malaysia is now the second country in Asia Pacific and the first in South East Asia to benefit from the added reliability that DynaWave® technology can offer for SRU emissions control and air quality improvements.” All three DynaWave® scrubbers consist of two reverse jet stages located in an inlet barrel which is connected to a disengagement vessel. They are capable of handling high inlet acid levels, which make it possible to bypass upstream TGTUs while still meeting and even exceeding regulatory emissions requirements. DynaWave® scrubbers can be designed to cope with inlet temperatures of up to 1200°C, but for PRPC the choice fell on optimizing heat recuperation from the incinerator so that these DynaWave® scrubbing units will take incoming gas at around 300-350°C. The RAPID (Refinery and Petrochemicals Integrated Development) project represents a significant investment of US$16 billion for PRPC. Scheduled for completion in 2019, it is expected to be capable of processing 300,000 barrels per day (bpd) and will operate three 470 metric tons per day (mtpd) sulphur recovery units. Over the last 40 years, DynaWave® technology developed by DuPont and licensed by MECS has been successfully installed and used at more than 400 sites around the world in different industries. In the Oil & Gas industry alone, DuPont Clean Technologies, which licenses both the DynaWave® scrubber technology and the Belco® EDV® Scrubber technology, has more than 150 successful wet scrubbing references around the globe. The large nozzles and open vessel design of the DynaWave® scrubbers result in units that are virtually plug proof and able to handle any possible sulphur particulate entrainment. This results in higher on-stream time and lower maintenance and operational expenditures for the refinery. MECS, Inc. (MECS) is the world leader in sulphuric acid plant and environmental technologies, providing engineering design, services and high-performance products for the phosphate fertilizer, oil and gas, chemical and non-ferrous metals industries. Specific to the oil and gas industry, MECS offers unique state-of-the-art solutions for treating sour off-gas from amine treaters and sour water strippers to achieve ultra-low emissions specifications. In place of or in addition to traditional Claus SRU / TGTU facilities, these solutions can incorporate wet-gas scrubbing (DynaWave®), direct wet-gas conversion to sulphuric acid (SULFOX™), and/or regenerative recovery of SO2 (SolvR™). MECS is a wholly owned subsidiary of DuPont. The DuPont Clean Technologies division applies real-world experience, history of innovation, problem-solving success, and strong brands to help organizations operate safely and with the highest level of performance, reliability, energy efficiency and environmental integrity. The Clean Technologies portfolio includes STRATCO® alkylation technology for production of clean, high-octane gasoline; IsoTherming® hydroprocessing technology for desulfurization of motor fuels; MECS® sulfuric acid production and regeneration technologies; BELCO® air quality control systems for FCC flue gas scrubbing, other refinery scrubbing applications and marine exhaust gas scrubbing; MECS® DynaWave® technology for sulfur recovery and tail gas-treating solutions; and a comprehensive suite of aftermarket service and solutions offerings. Learn more about DuPont Clean Technologies at http://www.cleantechnologies.dupont.com. DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials and services since 1802. The company believes that by collaborating with customers, governments, NGOs and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com. Forward-Looking Statements: This communication contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target,” similar expressions, and variations or negatives of these words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the consummation of the proposed transaction and the anticipated benefits thereof. Forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond the company’s control. Some of the important factors that could cause the company’s actual results to differ materially from those projected in any such forward-looking statements are: fluctuations in energy and raw material prices; failure to develop and market new products and optimally manage product life cycles; ability to respond to market acceptance, rules, regulations and policies affecting products based on biotechnology and, in general, for products for the agriculture industry; outcome of significant litigation and environmental matters, including realization of associated indemnification assets, if any; failure to appropriately manage process safety and product stewardship issues; changes in laws and regulations or political conditions; global economic and capital markets conditions, such as inflation, interest and currency exchange rates; business or supply disruptions; security threats, such as acts of sabotage, terrorism or war, natural disasters and weather events and patterns which could affect demand as well as availability of products for the agriculture industry; ability to protect and enforce the company’s intellectual property rights; successful integration of acquired businesses and separation of underperforming or non-strategic assets or businesses; and risks related to the agreement entered on December 11, 2015, with The Dow Chemical Company pursuant to which the companies have agreed to effect an all-stock merger of equals, including the completion of the proposed transaction on anticipated terms and timing, the ability to fully and timely realize the expected benefits of the proposed transaction and risks related to the intended business separations contemplated to occur after the completion of the proposed transaction. The company undertakes no duty to publicly revise or update any forward-looking statements as a result of future developments, or new information or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. The DuPont Oval Logo, DuPont™ and all products denoted with ® or TM are registered trademarks or trademarks of E.I. du Pont de Nemours and Company or its affiliates.

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