The Globe and Mail reports in its Saturday edition that H & R REIT has failed to find itself a buyer, prompting a plunge in the price of its units and a pledge from the company to sell $2.6-billion of assets. The Globe's Andrew Willis writes that the units hit an intraday low of $9.39, before finishing at $9.99, down $1.08 on the day. H & R announced late Thursday it had ended a nine-month sales process that attracted multiple bidders for specific properties, but failed to find a suitor for the entire REIT, which owns $9.6-billion of properties. H & R launched the review in February after receiving an unsolicited offer from a potential buyer. In July, when the REIT disclosed the process was happening, its units jumped 12 per cent. RBC Capital Markets analyst Jimmy Shan says, "While the update is not completely surprising given the time elapsed since review was initiated, we think this is a disappointing outcome." He notes that H & R units trade at a 35-per-cent discount to the value of the company's properties and a 15-per-cent discount to the average valuation of domestic peers. H & R is one of the few domestic REITs with residential, office, industrial and retail real estate holdings.