Pure Multi-Family REIT LP Announces Release of Fiscal 2012 Financial Results and Conference Call

VANCOUVER, Feb. 19, 2013 /CNW/ - Pure Multi-Family REIT LP ("Pure Multi") (TSXV: RUF.U) is pleased to announce the release of its financial results for the period ended December 31, 2012.

Q4 2012 Financial Results

The results, consisting of Pure Multi's audited consolidated financial statements for the period ended December 31, 2012 and Management's Discussion and Analysis ("MD&A") dated February 19, 2013, are available on SEDAR (www.sedar.com) and www.puremultifamily.com.

Key Highlights

  • As at December 31, 2012, Pure Multi's portfolio consists of 6 investment properties, which are valued at US$175.9 million, and consist of 1,908 rentable units, situated on over 114 acres of land.

  • Rental revenue from the date of formation on May 8, 2012 to December 31, 2012 was US$6.071 million.  For the three months ended December 31, 2012 rental revenue was US$4.746 million.

  • Occupancy at December 31, 2012 was 96.4%.

  • Weighted average mortgage interest rate as at December 31, 2012 was 4.23%.

  • Weighted average going-in capitalization rate was 7.04% on the 2012 investment property acquisitions.

  • Loan to gross book value ratio as at December 31, 2012 was 57.4%.

Stephen Evans, CEO, states, "We are excited about our initial high-quality apartment acquisitions since the IPO.  We continue to pursue high-quality apartment acquisitions to expand Pure Multi's portfolio.  Pure Multi's financial and operating results for the period are consistent with our long-term objectives, and reflect the strong fundamentals of the multi-family real estate market in the U.S. sunbelt region. We remain focused on acquiring properties located in major U.S. markets featuring strong employment and population growth statistics.  Pure Multi is well positioned for future growth."

Conference Call

Management will host the conference call at 5:00pm (EST), 2:00pm (PST), on Tuesday, February 19, 2013, to review the financial results and corporate developments for the three months ended December 31, 2012 and for the period from the date of formation on May 8, 2012 to December 31, 2012.

To participate in this conference call, please dial one of the following numbers approximately 10 minutes prior to the commencement of the call, and ask to join the Pure Multi-Family REIT LP Conference Call.

Dial in numbers:

Toll Free dial in number (from Canada and USA)....................................................1-888-390-0546
International or Local Toronto...............................................................................1-416-764-8688

Conference Call Replay

If you cannot participate on February 19, 2013, a replay of the conference call will be available by dialing one of the following replay numbers. You will be able to dial in and listen to the conference 120 minutes after the meeting end time, and the replay will be available until February 25, 2013.

Please enter the Replay ID# 261291, followed by the # key.

Replay Dial in number (Toll Free from Canada or the USA).....................................1-888-390-0541
International or Local Toronto...............................................................................1-416-764-8677

About Pure Multi-Family REIT LP

Pure Multi is currently the only publicly traded vehicle in Canada which offers investors exclusive exposure to U.S. multi-family real estate assets. Pure Multi's units are denominated in United States dollars and allow Canadian investors the opportunity to buy into attractively-valued American hard-assets while the Canadian dollar trades near 40 year highs.

Additional information about Pure Multi is available at www.puremultifamily.com or www.sedar.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.


SOURCE: Pure Multi-Family REIT LP

For further information:

Andrew Greig,
Director of Investor Relations

Pure Multi-Family REIT LP
Suite 910, 925 West Georgia Street
Vancouver, BC  V6C 3L2
Phone: (604) 681-5959 or (888) 681-5959
E-mail: agreig@puremultifamily.com


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