CALGARY, Alberta, Sept. 04, 2019 (GLOBE NEWSWIRE) — Northview Apartment Real Estate Investment Trust (âNorthviewâ) (NVU.UN â TSX) today announced the launch of the Distribution Reinvestment Plan (the âDRIPâ). Unitholders of record may elect to automatically reinvest monthly distributions in exchange for additional Northview Trust Units without brokerage fees.
Under the terms in the DRIP, participants will receive cash distributions in Trust Units and receive additional Trust Units equivalent to 3% of cash distribution reinvested in the DRIP. Trust Units purchased through the DRIP will be issued directly from Northviewâs treasury at the average market price of the Trust Units in the five trading days preceding the distribution payable date. Participation in the DRIP is optional and will not impact Unitholderâs cash distribution unless they elect to participate in the DRIP.
Eligible Unitholders who are interested in participating may enroll by completing the Reinvestment Enrollment Participant â Declaration form and submitting to Computershare Trust Company of Canada. Interested Unitholders should review the full text of the DRIP before making any decisions at www.northviewreit.com/investor-relations.
Northview is one of Canada’s largest publicly traded multi-family REITs with a portfolio of approximately 27,000 residential units and 1.2 million square feet of commercial space in more than 60 markets across eight provinces and two territories. Northview’s well-diversified portfolio includes markets characterized by expanding populations and growing economies, which provides Northview the means to deliver stable and growing profitability and distributions to Unitholders of Northview over time. Northview 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.
For additional information, please contact:
Mr. Todd Cook
President and Chief Executive Officer
Mr. Travis Beatty
Chief Financial Officer
Mr. Leslie Veiner
Chief Operating Officer