TORONTO, Aug. 27 /CNW/ - NorthWest Value Partners Inc. ("NorthWest")
announces that the Ontario Superior Court reserved judgement yesterday on an
application for an injunction to restrain the closing of a private placement
proposed by InterRent Real Estate Investment Trust - TSX:IIP.UN ("InterRent"
or the "Trust"). It is NorthWest's understanding the private placement will
not close pending the court's decision.
The court hearing arose out of an application to the Ontario Superior
Court commenced by NorthWest on August 4. "Our goal in these proceedings is to
ensure rights of InterRent unitholders are not disregarded. NorthWest will
continue to pursue all available avenues to protect the rights and interests
of unitholders," said Paul Dalla Lana, president of NorthWest.
About NorthWest Value Partners Inc.:
NorthWest, which owns or controls an approximately 34% interest in
InterRent, is a private real estate investment firm based in Toronto, Ontario
and is the founder and owner of NorthWest Healthcare Properties, Canada's
largest private owner and manager of medical office buildings and healthcare
facilities. Since its inception in 1992, NorthWest has established a strong
track record of successfully acquiring, developing and building value in real
estate across Canada.
For further information:
For further information: NorthWest Value Partners Inc., 284 King Street
East, Suite 100, Toronto, Ontario, M5A 1K4, Telephone: (416) 366-8300 ex. 222,