November 21, 2016 15:52 ET
OTTAWA, ONTARIO--(Marketwired - Nov. 21, 2016) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
InterRent Real Estate Investment Trust (TSX:IIP.UN) ("InterRent") announced today that its distribution declared for the month of November 2016 is $0.02025 per Trust unit, equal to $0.243 per Trust unit on an annualized basis. As previously announced, the trustees decided to increase the amount of future distributions as a result of InterRent's portfolio demonstrating strong, sustainable results. This month's distribution represents a 5.2% increase over the previous 2016 monthly distributions. Payment will be made on or about December 15, 2016 to unitholders of record on November 30, 2016.
InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multiresidential properties.
InterRent's strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and, offer opportunities for accretive acquisitions.
InterRent's primary objective is to use the proven industry experience of the Trustees, Management and Operational Team to: (i) provide Unitholders with stable and growing cash distributions from investments in a diversified portfolio of multi-residential properties; (ii) enhance the value of the assets and maximize long-term Unit value through the active management of such assets; and (iii) expand the asset base and increase Distributable Income through accretive acquisitions.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
InterRent Real Estate Investment TrustMike McGahanChief Executive OfficerTel: (613) 569-5699 Ext 244(613) 569-5698 (FAX)e-mail: firstname.lastname@example.orgBrad CutseyPresidentTel: (613) 569-5699 Ext 226(613) 569-5698 (FAX)e-mail: email@example.comCurt Millar, CPA, CAChief Financial OfficerTel: (613) 569-5699 Ext 233(613) 569-5698 (FAX)e-mail: firstname.lastname@example.org
See all RSS Newsfeeds