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OTTAWA, ON / ACCESSWIRE / November 15, 2019 / InterRent Real Estate Investment Trust (TSX:IIP.UN) ("InterRent") announced today that its distribution declared for the month of November 2019 is $0.025833 per Trust unit, equal to $0.31 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 6.9% increase over the previous 2019 monthly distributions. Payment will be made on or about December 16, 2019 to unitholders of record on November 30, 2019.
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 objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.
For further information about InterRent please contact:
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Mike McGahan |
Brad Cutsey, CFA |
Curt Millar, CPA, CA |
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: InterRent Real Estate Investment Trust