/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
OTTAWA,
ON, Nov. 16, 2023 /CNW/ - InterRent Real
Estate Investment Trust (TSX: IIP.UN)
("InterRent") announced today that its distribution
declared for the month of November 2023 is $0.0315 per Trust unit, equal to $0.3780 per Trust unit on an annualized basis. As
previously announced, the Board of Trustees decided to increase the
amount of future distributions as a result of InterRent's portfolio
demonstrating strong sustainable results. The November distribution
represents a 5.0% increase over the previous 2023 monthly
distributions. Payment will be made on or about
December 15, 2023, to unitholders of record on November
30, 2023.
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 Toronto Stock Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy of this
release.
SOURCE InterRent Real Estate Investment Trust