CALGARY, ALBERTA–(Marketwired – May 20, 2016) – Northview Apartment Real Estate Investment Trust (TSX:NVU.UN) (“Northview” or the “REIT”) announced today that it will not charge rent for the months of May or June 2016 for its 645 Fort McMurray residents that have been displaced by the devastating wildfires.
Northview Fort McMurray residents who paid rent for the month of May will have those payments credited to future rent following the return to their homes in Fort McMurray. For residents who pay electronically, these payments will not be processed for June.
This additional assistance follows the previously announced offer of free accommodation for its displaced Fort McMurray residents at Northview properties across Canada, and the matching of employee donations to the Red Cross Alberta Fires Appeal up to $25,000.
“Our efforts are now focused on welcoming our residents back to their homes when the properties are both safe and clean,” said Todd Cook, President and CEO. “We greatly appreciate the efforts of the first responders and other organizations that assisted with the evacuation of our residents and employees from Fort McMurray. I would like to thank the generosity of TELUS, Sleep Country, M I B Moving and United Rentals who moved quickly to provide goods and services at no charge to our affected residents, as well as the communities that have supported and welcomed the evacuees.”
Northview has developed a comprehensive plan to enable the prompt return of residents once local officials determine it is safe to do so. When our teams are allowed back into Fort McMurray, inspections of each building will be completed and repairs may be required before we determine our buildings are ready for occupancy. Northview will announce target dates for our residents to return to their Fort McMurray homes once assessments of work required have been completed. Northview is working with officials to gain early access to conduct inspections, however the return date for Northview residents is likely later than the general re-entry date for the city of Fort McMurray. As information is available, Northview’s website, Twitter and Facebook page will be updated.
FORT MCMURRAY RESIDENTS MAY CONTACT OUR
CUSTOMER SERVICE TEAM AT 1-866-557-5766
Northview also encourages those affected to use the following resources:
Northview is Canada’s third largest publicly traded multi‐family REIT with a portfolio of more than 24,000 quality residential suites in more than 60 markets across eight provinces and two territories. Northview’s portfolio spans markets characterized by expanding populations, growing economies, high occupancy levels, and rising rents, which provides Northview the means to deliver stable and growing profitability and cash distributions over time. The REIT currently trades on the TSX under the ticker symbol: NVU.UN. Additional information concerning Northview is available at www.sedar.com or www.northviewreit.com.