/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES /
OTTAWA,
ON, May 16, 2024 /CNW/ - InterRent Real
Estate Investment Trust (TSX: IIP.UN) ("InterRent") announced today
that its distribution declared for the month of May 2024 is $0.0315
per Trust unit, equal to $0.3780 per
Trust unit on an annualized basis. Payment will be made on or about
June 17, 2024, to unitholders of
record on May 31, 2024.
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.
www.irent.com
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