Highlands REIT Inc
Highlands REIT, Inc. (OTC Pink: HHDS) is an independent, self-advised, non-listed public real estate investment trust with a portfolio of investment properties including multifamily residential communities, retail and office properties, a correctional facility, and unimproved land. Prior to April 28, 2016, Highlands was a wholly owned subsidiary of InvenTrust Properties Corp. (formerly known as Inland American Real Estate Trust, Inc.), one of the largest non-traded REITs in the United States. On April 28, 2016, Highlands was spun off from InvenTrust through a pro-rata distribution of 100% of its outstanding shares to all InvenTrust stockholders, creating an independent public company as a vehicle for managing the non-core assets retained following InvenTrust's strategic portfolio repositioning.<br><br>The company operates in two primary segments: the multifamily residential segment, which encompasses a portfolio of apartment communities located across various markets in the United States; and the other segment, which includes the retail, office, correctional, and land assets that represent the legacy non-core properties retained in the spin-off. At the time of its spin-off, Highlands held a portfolio of 13 multifamily properties, three retail properties, one office property, one correctional facility, and one parcel of unimproved land — a diverse collection of real estate assets across asset types and geographies reflecting its origin as a portfolio carve-out rather than a purpose-built investment vehicle.<br><br>Highlands REIT, Inc. is required by the Internal Revenue Code to distribute at least 90% of its taxable income to shareholders annually as dividends to maintain its REIT tax status, and it files periodic reports with the Securities and Exchange Commission as a public reporting company. The company trades on the OTC Pink market under the ticker symbol HHDS and has elected to be taxed as a real estate investment trust under the Internal Revenue Code of 1986. As Highlands works to manage and potentially dispose of its non-core assets, it continues to provide investors with exposure to a diversified real estate portfolio through the transparency of its SEC reporting obligations.