CALGARY, July 15, 2015 /CNW/ - Northern Property Real Estate Investment Trust (NPR.UN - TSX) announced its July 2015 monthly distribution in the amount of $0.1358 per trust unit, payable on August 14, 2015 to holders of trust units of record at July 31, 2015.
As at the date hereof, there are 31,694,190 trust units (NPR.UN) issued and outstanding and 67,796 NPR Limited Partnership Class B units issued and outstanding.
NPR is primarily a multi-family residential real estate investor, providing a broad spectrum of rental accommodations in Canadian secondary markets. NPR focuses on communities with strong economic fundamentals where capitalization rates are generally higher and competition is somewhat restrained. NPR's residential portfolio is comprised of a multi-family segment: apartments, town homes and single family rental units; and execusuites and hotel where the rental period ranges from a few days to several months. NPR also has a portfolio of commercial buildings focused on government tenancies and quality corporate tenants predominantly located in the Northwest Territories, Nunavut and Newfoundland and Labrador. Geographically, NPR operates in Alberta, British Columbia, Newfoundland and Labrador, the Northwest Territories, Nunavut, Quebec and Saskatchewan. The value of NPR's real estate at March 31, 2015, was $1.7 billion with 11,066 residential units and 1,171,000 square feet of commercial space. NPR is traded on the TSX under the ticker symbol: NPR.UN
SOURCE Northern Property Real Estate Investment Trust
For further information: Mr. Robert J. Palmer, Chief Financial Officer, (403) 531-3545.