An anonymous trustee reports
INTERRENT REIT ANNOUNCES NOVEMBER 2023 DISTRIBUTIONS
InterRent Real Estate Investment Trust's distribution declared for the month of November, 2023, is 3.15 cents per trust unit, equal to 37.8 cents 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-per-cent increase over the previous 2023 monthly distributions. Payment will be made on or about Dec. 15, 2023, to unitholders of record on Nov. 30, 2023.
About InterRent Real Estate Investment Trust
InterRent 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 multiresidential 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: (i) to grow both funds from operations per unit and net asset value per unit through investments in a diversified portfolio of multiresidential properties; (ii) to provide unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.
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