InterRent Real Estate Investment Trust

InterRent Real Estate Investment Trust

September 03, 2009 15:30 ET

InterRent Real Estate Investment Trust Announces NorthWest Injunction Application Dismissed and Completion of $14 Million Private Placement

TORONTO, ONTARIO--(Marketwire - Sept. 3, 2009) - InterRent Real Estate Investment Trust (TSX:IIP.UN)(TSX:IIP.DB) ("InterRent") announced today that the Superior Court of Ontario has denied a request by NorthWest Value Partners Inc. for an interim injunction.

This decision resulted in the closing, without further action by the InterRent Trustees, of the $14 million private placement of units at $1.50 per unit in connection with InterRent's previously announced transaction with CLV Group Inc. The private placement had been conditionally approved by the TSX, which conditional approval was upheld by the Ontario Securities Commission.

InterRent also wishes to announce that its upcoming annual and special meeting of unitholders will be held on September 30, 2009.

About InterRent

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

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of 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". In particular, but without limitation, there is no assurance that InterRent's previously announced private placement transaction will be completed on the terms disclosed or at all. 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 statement. InterRent assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

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