InterRent Real Estate Investment Trust

InterRent Real Estate Investment Trust

June 23, 2008 07:30 ET

InterRent REIT Announces July Distributions

TORONTO, ONTARIO--(Marketwire - June 23, 2008) -


InterRent Real Estate Investment Trust (TSX:IIP.UN) ("InterRent") announced today that its distribution declared for the month of July, 2008 is $0.0217, per REIT unit, equal to $0.26 per REIT unit on an annualized basis, representing an annual yield of approximately 9.97% based on the June 20, 2008 unit closing price of $2.61 per REIT unit. Payment will be made on or about July 15, 2008 to Unit holders of record on June 30, 2008. At the close of business on June 20, 2008, InterRent had 18,183,279 units issued and outstanding, including class "B" units of InterRent Holdings Limited Partnership.

Dividend Reinvestment Program (DRIP)

InterRent also offers to its unit holders a Dividend Re Investment Plan (DRIP), whereby current unit holders can elect to receive their distributions in units instead of cash. 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 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 InterRent's website at

Annual Meeting

InterRent would also like to remind all unit holders, that it will hold its Annual Meeting of unit holders on June 27, 2008 at 11:00 a.m. ET. The meeting will be held at the Albany Club, 91 King Street East, Toronto, Ontario.

Following the formal part of the meeting, there will be a presentation by management and a question and answer session. A live audio webcast of the meeting will be available on the company's website at

About InterRent

InterRent is a rapidly expanding, 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 4,038 apartment suites under ownership, and 233 under conditional purchase contract, for a total of 4,271 suites in the province of Ontario.

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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