InterRent Real Estate Investment Trust

InterRent Real Estate Investment Trust

June 02, 2009 06:00 ET

InterRent REIT Among Canada's Fastest Growing Companies For Second Consecutive Year

TORONTO, ONTARIO--(Marketwire - June 2, 2009) -


InterRent Real Estate Investment Trust (TSX:IIP.UN)(TSX:IIP.DB) ("InterRent") has been chosen by PROFIT Magazine as the 31st fastest-growing company in Canada, ranked by revenue growth over the past five years. InterRent takes its place for the second year in a row among the PROFIT 100 of Canada's Fastest-Growing Companies. In 2008 InterRent was ranked 21st on the PROFIT 100.

InterRent's revenues for 2008 grew by 2,316 % to $33.9 million, compared to $1.4 million in 2003, and its real estate assets to $263 million from $18 million in 2003.

Commenting on the announcement by PROFIT Magazine, Michael Newman, InterRent's CEO stated "Being chosen for a second consecutive year as one of Canada's 100 Fastest-Growing Companies by PROFIT Magazine, especially in the current economic climate, is a great honour and a tribute to management's success over the past five years."

About InterRent

InterRent is a growth-oriented real estate investment trust engaged in building unit holder value through the accretive acquisition, ownership and operation of strategically located income producing multi-residential real estate, with 4,033 apartment suites currently under ownership in Ontario.

About PROFIT Magazine

Ranking Canada's Fastest Growing Companies by five-year revenue growth, the PROFIT 100 profiles the country's most successful growth companies.

PROFIT: Your Guide to Business Success, is Canada's preeminent publication dedicated to the management issues and opportunities facing small and mid-sized businesses. For more than 25 years Canadian entrepreneurs across a vast array of economic sectors have remained loyal to PROFIT because it's a timely and reliable source of actionable information that helps them increase their revenues, boost their profitability and get the recognition they deserve for generating positive economic and social change. Published six times a year by Rogers Publishing Ltd., PROFIT is distributed almost exclusively to the chief executives of companies with 5-250 employees and annual revenues of $1 million to $25 million, reaching more than 300,000 readers across Canada. Visit PROFIT online at

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". InterRent is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this release. A full description of these risk factors can be found in InterRent's publicly filed information which may be located at InterRent cannot assure investors that actual results will be consistent with these forward looking statements and InterRent assumes no obligation to update or revise the forward-looking statements contained in this release to reflect actual events or new circumstances.

The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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