InterRent Announces November 2020 Distributions
14 November 2020 - 4:00AM
Business Wire
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
InterRent Real Estate Investment Trust (TSX-IIP.UN)
(“InterRent”) announced today that its distribution declared
for the month of November 2020 is $0.027125 per Trust unit, equal
to $0.3255 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 2020 monthly distributions. Payment
will be made on or about December 15, 2020 to unitholders of record
on November 30, 2020.
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.
The TSX has not reviewed and does not accept
responsibility for the adequacy or accuracy of this
release.
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version on businesswire.com: https://www.businesswire.com/news/home/20201113005545/en/
Mike McGahan Chief Executive Officer Tel: (613) 569-5699 Ext 244
Fax: (613) 569-5698 e-mail: mmcgahan@interrentreit.com
Brad Cutsey, CFA President Tel: (613) 569-5699 Ext 226 Fax:
(613) 569-5698 e-mail: bcutsey@interrentreit.com
Curt Millar, CPA, CA Chief Financial Officer Tel: (613) 569-5699
Ext 233 Fax: (613) 569-5698 e-mail: cmillar@interrentreit.com
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