InterRent Real Estate Investment Trust

InterRent Real Estate Investment Trust

July 19, 2007 09:15 ET

InterRent REIT Announces August Distribution, Commencement of DRIP

TORONTO, ONTARIO--(Marketwire - July 19, 2007) - InterRent Real Estate Investment Trust (TSX:IIP.UN) ("InterRent") announced today that its distribution declared for the month of August 2007 is $0.0317, per unit, equal to $0.38 per unit on an annualized basis, representing an annual yield of approximately 7.79% based on the July 18, 2007 unit closing price of $4.88. Payment will be made on or about August 15, 2007 to Unit holders of record on July 31, 2007. At the close of business on July 18, 2007, InterRent had 16,233,007 units issued and outstanding, including class B units of InterRent Holdings Limited Partnership.

Commencement of DRIP

InterRent also announced that commencing with the August 15, 2007 distributions, unit holders may elect to automatically reinvest monthly distributions in additional units of InterRent, and may make optional cash payments (subject to a $250 minimum) to purchase additional units of InterRent without paying brokerage fees.

Units purchased through reinvestment of distributions will be purchased at 96% of the Average Market Price of the Units for the 10 trading days preceding the distribution payment date. Units purchased with cash contributions will be purchased at the average market price of the units for the 10 trading days preceding the distribution payment date. Units acquired under the DRIP will be issued directly from InterRent's treasury. The full text of the DRIP and an enrolment form are available on the InterRent's website at

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 3,485 apartment suites under ownership and 317 suites under contract, with all of them scheduled to close prior to the end of July 2007, for a total of 3,802 apartment suites.

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.

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