NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
OTTAWA, Nov. 20, 2017 (GLOBE NEWSWIRE) — InterRent Real Estate Investment Trust (TSX:IIP.UN) (âInterRentâ) announced today that its distribution declared for the month of November 2017 is $0.0225 per Trust unit, equal to $0.27 per Trust unit on an annualized basis. As previously announced, the trustees decided to increase the amount of future distributions as a result of InterRentâs portfolio demonstrating strong, sustainable results. This monthâs distribution represents an 11.1% increase over the previous 2017 monthly distributions. Payment will be made on or about December 15, 2017 to unitholders of record on November 30, 2017.
About InterRent
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.
For further information about InterRent please contact:
| Mike McGahan | Brad Cutsey, CFA | Curt Millar, CPA, CA |
| Chief Executive Officer | President | Chief Financial Officer |
| Tel: (613) 569-5699 Ext 244 | Tel: (613) 569-5699 Ext 226 | Tel: (613) 569-5699 Ext 233 |
| Fax: (613) 569-5698 | Fax: (613) 569-5698 | Fax: (613) 569-5698 |
| e-mail: mmcgahan@interrentreit.com | e-mail: bcutsey@interrentreit.com | e-mail: cmillar@interrentreit.com |
The TSX has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.