CALGARY, March 16, 2015 /CNW/ - Northern Property Real Estate Investment Trust (NPR.UN - TSX) announced its March 2015 monthly distribution in the amount of $0.1358 per trust unit, payable on April 15, 2015 to holders of trust units of record at March 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 with strong economic fundamentals where capitalization rates are generally higher and competition 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 predominantly located in Canada's far north. Geographically, NPR operates in British Columbia, the Northwest Territories, Alberta, Saskatchewan, Nunavut, Quebec and Newfoundland and Labrador. The value of NPR's real estate at September 30, 2014 was $1.65 billion with 10,681 residential units and 1,141,959 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.