TORONTO, Jan. 27 /CNW/ - H&R Real Estate Investment Trust ("H&R") (TSX: HR.UN ; HR.DB; HR.DB.B; HR.DB.C) is pleased to announce it has entered into an agreement to sell on a bought deal basis, to a syndicate of underwriters co-led by RBC Capital Markets and TD Securities, $230 million principal amount of senior unsecured debentures in two tranches (collectively the "Senior Debentures").