InterRent Announces November 2015 Distributions
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Ottawa, Ontario(November 20, 2015) – InterRent Real Estate Investment Trust (TSX-IIP.UN) (“InterRent”) announced today that its distribution declared for the month of November 2015 is $0.01925 per Trust unit, equal to $0.231 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% increase over the previous 2015 monthly distributions. Payment will be made on or about December 15, 2015 to unitholders of record on November 30, 2015.
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 multi-residential 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.
Forward Looking Statements
This news release contains “forward-looking statements” within the meaning applicable to 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 most recently publicly filed information located at www.sedar.com. 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.
For further information about InterRent please contact:
|Mike McGahan||Curt Millar, CA|
|Chief Executive Officer||Chief Financial Officer|
|Tel: (613) 569-5699 Ext 244||Tel: (613) 569-5699 Ext 233|
|Fax: (613) 569-5698||Fax:(613) 569-5698|
|web site: www.interrentreit.com|
The TSX has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.